Valeant Pharmaceuticals (VRX) to be renamed Bausch Health Companies

 

• The change to Bausch Health Companies Inc. and the new ticker BHC, is scheduled for July. 

 

It will be the company’s second scandal-inspired name change in less than 10 years. In 2010, after the troubled pharmaceutical company Biovail acquired Valeant, and the combined company went by the name Valeant instead.

Rebranding is a time-honored tool for companies, giving them a fresh start and bringing them closer to what they want to be known for.

Andersen Consulting is now Accenture plc (NYSE:ACN), Philip Morris is Altria Group Inc (NYSE:MO), and most of what was once Enron is now Kinder Morgan Inc (NYSE:KMI).

In Valeant’s case, that would be its well-known Bausch + Lomb eye products line, which sells contact lenses, dry eye products, prescription eye products, surgical products and more. The business unit brought in $4.9 billion in revenue last year, making it by far Valeant’s biggest unit by revenue.