Clear

Steinbach, MB

-19°c Clear

Full Forecast

Local

The Carillon - ONLINE EDITION

Valeant plans rebrand

By: Jordan Ross

Posted: 05/15/2018 9:45 AM

  • Print
Steinbach mayor Chris Goertzen, Valeant CEO Joseph Papa and Provencher MP Ted Falk speak at an announcement in Steinbach in June 2016. The company has said it is launching a rebranding effort and will become known as Bausch Health Companies Inc.

IAN FROESE | THE CARILLON Enlarge Image

Steinbach mayor Chris Goertzen, Valeant CEO Joseph Papa and Provencher MP Ted Falk speak at an announcement in Steinbach in June 2016. The company has said it is launching a rebranding effort and will become known as Bausch Health Companies Inc.

Advertisement

Valeant Pharmaceuticals International Inc., one of Steinbach’s largest employers, is hoping a name change helps it turn over a new leaf.

The company, headquartered in Laval, Que., announced last week that come July, it will rebrand as Bausch Health Companies Inc.

The name change will not apply to subsidiaries with their own established brands, a release stated, but the company’s stock symbol will change from VRX to BHC on the New York and Toronto exchanges.

The move follows a three-year rough patch that saw Valeant leadership take heat from the public, politicians, and regulators for hikes to drug prices, causing the company’s stock value to drop.

Joseph Papa, Valeant’s CEO since May 2016, has launched a multi-year turnaround strategy, including debt reduction and divestitures, designed to resolve "numerous legacy issues," a release noted.

"We believe Bausch Health Companies more accurately represents the full scope of the company today," Papa said.

Lainie Keller, vice-president for corporate communications, said the company won’t unveil its new logo until July, but said its 375 Steinbach employees will notice new signage later this year.

It will be the second new look in less than a decade for the plant, known as Biovail Corp. until a merger with Valeant in 2010.

More Local News

  • false

    Dancer excels in RWB program

    02/18/2019 7:30 PM
  • Rise in vehicle thefts prompts police warning

    02/17/2019 12:30 PM

    An increase in the theft of vehicles, quads and ATV, as well as thefts from inside vehicles has been highlighted by Steinbach RCMP, who have turned to the public for support in preventing the crimes.

    Police shared several tips in a ...

  • GORP founder Colleen Dyck displays two of three new oatmeal flavours formulated for the Chinese market, next to two pallets of product destined for Beijing.

    GORP heads to China

    02/17/2019 12:15 PM

Ads by Google

Electronic Copies

The Carillon single copy cover

Annual Subscription

Back issues available with an e-subscription

Subscribe to single copy
$1.50 each (includes tax)

December 20, 2018 copy now available

Read this week’s classifieds