Bausch Health’s Long March Through Debt

The SEC filing of November 14 tells a tale of subtraction. Lombard Odier, once a tenant of 3,334,000 shares, now holds 1,716,000. The value of the position, $11.07 million as of September 30, 2025, is a shadow of its former self. The market, ever the fickle lover, has seen its worth dwindle, and the fund has adjusted its course accordingly.




