# EDGAR Filing Document

**Accession Number:** 0000885590
**File Stem:** 0001013594-25-001066
**Filing Date:** 2025-8
**Character Count:** 7140
**Document Hash:** 6c396f1dd395a03d8672aecfc4aca711
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001013594-25-001066.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001013594-25-001066

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bausch Health Companies Inc.
- **CENTRAL INDEX KEY:** 0000885590
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-45947
- **FILM NUMBER:** 251222225

**BUSINESS ADDRESS:**
- **STREET 1:** 2150 ST. ELZEAR BLVD. WEST
- **STREET 2:** LAVAL
- **CITY:** QUEBEC
- **STATE:** A8
- **ZIP:** H7L 4A8
- **BUSINESS PHONE:** 514-744-6792

**MAIL ADDRESS:**
- **STREET 1:** 2150 ST. ELZEAR BLVD. WEST
- **STREET 2:** LAVAL
- **CITY:** QUEBEC
- **STATE:** A8
- **ZIP:** H7L 4A8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Valeant Pharmaceuticals International, Inc.
- **DATE OF NAME CHANGE:** 20100928

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIOVAIL Corp
- **DATE OF NAME CHANGE:** 20100416

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIOVAIL CORP INTERNATIONAL
- **DATE OF NAME CHANGE:** 19960522
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAULSON & CO. INC.
- **CENTRAL INDEX KEY:** 0001035674

**ORGANIZATION NAME:**
- **EIN:** 133796759
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 15 EXCHANGE PLACE
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 212-956-2221

**MAIL ADDRESS:**
- **STREET 1:** 15 EXCHANGE PLACE
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PAULSON & CO INC
- **DATE OF NAME CHANGE:** 19970313

## Ex-1

#### EXHIBIT 1
Transactions in the Common Stock of the Issuer by the Reporting Person during the past 60 days or since the last amendment to this Schedule 13D:

---

| | | | | |
|:---|:---|:---|:---|:---|
| <u>Date</u> | <u>Buy/Sell</u> | <u>Security</u> | <br> Approximate<br> <u>Price Per Share</u><sup>1</sup> | Amount of Shares <u>Bought/(Sold)</u> |
| 08/11/2025 | Buy | Common Stock | $6.35 | 2000000 |
| 08/12/2025 | Buy | Common Stock | $6.88 | 1156640 |
| 08/13/2025 | Buy | Common Stock | $7.06 | 86409 |
| 08/14/2025 | Buy | Common Stock | $9.00 | 34721118 |

---

------

<sup>1</sup> Including brokerage fees.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 5)**

**Bausch Health Companies Inc.**

*(Name of Issuer)*

**Common Shares, no par value**

*(Title of Class of Securities)*

**071734107**

*(CUSIP Number)*

**Kelly Zelezen**<br>Kleinberg, Kaplan, Wolff & Cohen, P.C.<br>500 Fifth Avenue<br>New York NY 10110<br>(212) 986-6000

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/14/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **071734107** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**PAULSON & CO. INC.** | Name of reporting person<br>**PAULSON & CO. INC.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**70755869.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**70755869.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**70755869.00** | Aggregate amount beneficially owned by each reporting person<br>**70755869.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**19.1%** | Percent of class represented by amount in Row (11)<br>**19.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Note to Items 7, 9, 11: See Note 1 to Item 5 below

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Shares, no par value

**(b) Name of Issuer:**
Bausch Health Companies Inc.

**(c) Address of Issuer's Principal Executive Offices:**
2150 ST. ELZEAR BLVD. WEST, LAVAL, QUEBEC, A8, H7L 4A8

The following constitutes Amendment No. 4 to the Schedule 13D filed by the undersigned ("Amendment No. 5"). This Amendment No. 5 amends the Schedule 13D as specifically set forth herein.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Common Shares reported owned by the Reporting Person is based upon approximately 369,790,319 Common Shares outstanding as of July 25, 2025, which is the total number of Common Shares outstanding as disclosed on the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 31, 2025. As of the date hereof, the Reporting Person may be deemed to have beneficially owned approximately 19.1% of the outstanding Common Shares.

**(b)**
(i) Sole power to vote or direct the vote: 70,755,869 (see Note 1).
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition: 70,755,869 (see Note 1).
(iv) Shared power to dispose or direct the disposition: 0

**(c)**
The transactions effected by the Reporting Person during the past 60 days or since the last filing of an amendment to this Schedule 13D are set forth on Exhibit 1 attached hereto.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** PAULSON & CO. INC.

**Signature:** /s/ Stuart L. Merzer

**Name/Title:** Stuart L. Merzer, General Counsel & Chief Compliance Officer

**Date:** 08/14/2025