Bausch Health to reduce debt by $100 million using cash from operations

Bausch Health Cos. iNc. said Wednesday it is reducing debt by $100 million using cash from operations. The drug company, formerly called Valeant, has been working to reduce the debt burden accumulated during the Valeant years, which is still more than $23 billion, according to FactSet data. The company will redeem $100 million of its outstanding 5.50% senior notes that mature in March of 2023. Shares were not yet active premarket but have gained 11% in the last 12 months, while the S&P 500 has gained 22%.

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