Bausch Health: Finally Escaping the Valeant Stigma?
It has been several years since Bausch Health (NYSE: BHC), formerly known as Valeant Pharmaceuticals, made headlines for jacking up drug prices through its specialty pharmacy, Philidor. Even now, after a new name, a new management team, and a new business strategy, the company is having trouble escaping its past -- but a recently announced settlement might help to change that.
This week, Bausch Health agreed to pay a staggering $1.21 billion to prior shareholders who believe the company misrepresented key financial data in the lead-up to its stock-price collapse in 2015. While Bausch isn't admitting to any wrongdoing, the agreement suggests that management wishes to avoid a drawn-out, reputation-tarnishing legal battle and lock these skeletons in the closet once and for all.
Image Source: Getty Images.
Source Fool.com
