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Investor Contact : Arthur Shannon arthur.shannon@bauschhealth.com ( 514 ) 856-3855 ( 877 ) 281-6642 ( toll free ) BAUSCH - Health Media Contact : Lainie Keller lainie.keller@bauschhealth.com ( 908 ) 927-1198 BAUSCH HEALTH COMPANIES INC . ANNOUNCES FIRST - QUARTER 2021 RESULTS First - Quarter 2021 Financial Results • ○ • • ○ Revenues of $ 2.027 Billion GAAP Net Loss of $ 610 Million Adjusted EBITDA ( non - GAAP ) ¹ of $ 852 Million ○ GAAP Cash Generated from Operations of $ 443 Million Company Continues to Make Progress on Planned Separation of Eye Health Business ○ Announces Leadership Team of Bausch + Lomb О Now Operates in Five Reportable Segments Reaffirmed 2021 Full - Year Revenue and Adjusted EBITDA ( non - GAAP ) Guidance Ranges LAVAL , Quebec , May 4 , 2021 – Bausch Health Companies Inc. ( NYSE / TSX : BHC ) ( “ Bausch Health " or the " Company " or " we " ) today announced its first - quarter 2021 financial results . “ Bausch Health entered 2021 with strong momentum as our recovery from the COVID - 19 pandemic continues . Our business is generating strong cash flow , many of our leading products have increased market share in key markets , and we are advancing our pipeline , " said Joseph C. Papa , chairman and CEO , Bausch Health . " We are taking action to accelerate the strategic alternatives process to expedite the spinoff of Bausch + Lomb as we remain committed to unlocking value across our two attractive businesses . We are focused on execution and growth as we position these two strong , but dissimilar businesses as attractive growth opportunities in the markets they serve , " continued Mr. Papa . Select Company Highlights • Increased total Company reported revenue by 1 % compared to the first quarter of 2020 • Launched Solta Medical's Clear + BrilliantⓇ Touch laser in the United States • Launched Bausch + Lomb's Alaway® Preservative Free ( ketotifen fumarate ophthalmic solution , 0.035 % ) , antihistamine eye drops in the United States • Entered into an agreement to divest Amoun Pharmaceutical Company S.A.E. to Abu - Dhabi based ADQ ; the transaction is expected to close in the first half of 2021 • Repaid debt by $ 200 million in the first quarter of 2021 using cash generated from operations ; Bausch Health has no mandatory amortization payments or debt maturities until 2024 • Announced in March that Sam Eldessouky , the Company's current Controller and Chief Accounting Officer , has been appointed to the role of Chief Financial Officer ( CFO ) and will succeed Bausch Health's current CFO Paul S. Herendeen , effective June 1 , 2021. Mr. Herendeen will remain at Bausch Health in the newly created role of Advisor to the Chairman and CEO 1 Please see the tables at the end of this news release for a reconciliation of this and other non - GAAP measures to the nearest comparable GAAP measure .