SEC Files and Settles Lawsuit to Resolve
Investigation
LAVAL, Quebec, Sept. 28, 2018 /PRNewswire/ -- Salix
Pharmaceuticals, one of the largest specialty pharmaceutical
companies in the world committed to the prevention and treatment of
gastrointestinal diseases, and its parent company, Bausch Health
Companies Inc. (NYSE/TSX: BHC) ("Bausch Health"), today issued the
following statement regarding the successful resolution of the
legacy investigation with the Securities and Exchange Commission
(SEC).
We are pleased that Salix resolved the SEC's civil
investigation, which commenced in the fourth quarter of 2014, with
no monetary penalty into conduct occurring prior to its acquisition
by Valeant (now Bausch Health Companies Inc.) After self-reporting
to the SEC, Salix, and subsequently Valeant, conducted a thorough,
independent investigation, fully cooperated with the SEC, and took
strong remedial actions. Since the acquisition, Salix has been
completely transformed and now operates under the comprehensive
compliance programs that govern Bausch Health.
None of the individuals involved in any way in the conduct
described in the SEC complaint remained with Salix after the
acquisition. A former Salix officer, Adam
Derbyshire, has been charged for misconduct and will
separately pay a fine to settle individual charges.
"The settlement with Salix reflects the company's self-report to
the Commission and its significant cooperation with the
investigation," said David Frohlich,
Assistant Director in the SEC's Enforcement Division. "Salix's
proactive remediation included conducting an extensive internal
investigation that led to Derbyshire's resignation."
The settlement with the SEC will become final if approved by the
U.S. District Court, Southern District of New York, as the parties recommend.
About Bausch Health
Bausch Health Companies Inc.
(NYSE/TSX: BHC) is a global company whose mission is to improve
people's lives with our health care products. We develop,
manufacture and market a range of pharmaceutical, medical device
and over-the-counter products, primarily in the therapeutic areas
of eye health, gastroenterology and dermatology. We are delivering
on our commitments as we build an innovative company dedicated to
advancing global health. More information can be found at
www.bauschhealth.com.
Investor
Contact:
|
Media
Contact:
|
Arthur
Shannon
|
Lainie
Keller
|
arthur.shannon@bauschhealth.com
|
lainie.keller@bauschhealth.com
|
(514)
856-3855
|
(908)
927-0617
|
(877) 281-6642 (toll
free)
|
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/salix-resolves-legacy-sec-investigation-with-no-penalty-300721016.html
SOURCE Bausch Health Companies Inc.