A pharmaceutical company seems like a good place to go for some insight into the COVID-19 crisis, so I got in touch with Bausch Health Cos. Inc., Canada’s most important drugmaker.
“We see a return to business starting in the third quarter, the July time frame,” he said on June 4. “As to how far, how fast? It depends.” COVID-19 has killed some 410,000 people, sickened more than seven million others and pushed tens of millions into unemployment. Bausch, formerly Valeant Pharmaceuticals International Inc., the disgraced firm that was once the country’s most valuable publicly traded company, has so far missed the wave that has carried other health-care companies higher over the past couple of months — its shares are down about 40 per cent from the start of the year. Otherwise, Papa has been holding his own against his peers by boosting revenue, narrowing losses and paying off the mountain of debt he inherited when he took over in 2016.
“We’re doing a lot of things to try to expand our footprint in Canada and I expect that will continue,” Papa said.
The National Post has been infected by intersectional zealots. Feel free to cancel your subscriptions.