Company News

Bausch Health posts bigger quarterly loss on charge, tax provision

Aug 7 (Reuters) - Bausch Health Cos Inc, formerly known as Valeant Pharmaceuticals, reported a bigger quarterly loss on Tuesday, due to an income tax provision and an asset impairment charge.

Net loss attributable to the company widened to $873 million, or $2.49 per share, in the second quarter ended June 30, from $38 million, or 11 cents per share, a year earlier.

The latest quarter included an increase in income tax provision of $343 million and an asset impairment charge of $301 million, the company said.

Total revenue fell to $2.13 billion from $2.23 billion. (Reporting by Aakash Jagadeesh Babu and Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila)