This presentation contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements regarding Ba

2019 Annual Meeting of Shareholders

April 30, 2019 Laval, Quebec Exhibit 99.1

This presentation contains

forward-looking information and statements, within the meaning of applicable securities laws (collectively, "forward-looking statements"), including, but not limited to, statements regarding Bausch Health's future prospects and

performance, including the Company's targeted three-year CAGR of revenue growth and Adjusted EBITDA (non-GAAP) growth, anticipated revenue from our Significant Seven products, the expected impact on long-term growth of new product approvals

(including approvals of the Significant Seven), the timing and number of expected product launches, the anticipated submission, approval and launch dates for certain of our pipeline products and R&D programs (including DUOBRII (provisional

name)) the anticipated number of submissions for regulatory approval of our pipeline products and the anticipated timing of such submissions, the expected reported revenue growth and expected revenue generated from the Significant Seven, expected

cash generated from operations and the anticipated uses of same, expected growth in R&D investment and the amount of such growth, anticipated continued improvement in operational efficiency (Project CORE) and the expected impact of such

efficiencies, management's commitments and expected targets and our ability to achieve the action plan and expected targets in the periods anticipated. Forward-looking statements may generally be identified by the use of the words

"plans", "projects", "anticipates," "expects," "goals", "intends," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," "commit," or "continue" and variations or

similar expressions. These forward-looking statements, including management's expectations and expected targets for 2019 and beyond, are based upon the current expectations and beliefs of management and are provided for the purpose of

providing additional information about such expectations and beliefs and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that

could cause actual results and events to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Company's most recent

annual and quarterly reports and detailed from time to time in the Company's other filings with the Securities and Exchange Commission and the Canadian Securities Administrators, which risks and uncertainties are incorporated herein by reference. In

addition, certain material factors and assumptions have been applied in making these forward-looking statements, including assumptions respecting our targeted three-year CAGR of revenue growth and Adjusted EBITDA (non-GAAP) growth including, without

limitation, expectations on constant currency and mid-point of 2019 guidance, assumptions regarding our expectations regarding revenue growth in 2019, including, but not limited to, expectations on exchange rate and midpoint of 2019 guidance, and

that the risks and uncertainties outlined above will not cause actual results or events to differ materially from those described in these forward-looking statements, and additional information regarding certain of these material factors and

assumptions may also be found in the Company's filings described above. The Company believes that the material factors and assumptions reflected in these forward-looking statements are reasonable, but readers are cautioned not to place undue

reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Valeant undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the

date of this presentation or to reflect actual outcomes, unless required by law. Forward-Looking Statements

To supplement the financial measures

prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures, including Adjusted EBITDA, Organic Revenue Growth and Constant Currency. Management uses non-GAAP measures as key

metrics in the evaluation of company performance and the consolidated financial results and, in part, in the determination of cash bonuses for its executive officers. The Company believes non-GAAP measures are useful to investors in their assessment

of our operating performance and the valuation of our Company. In addition, non-GAAP measures address questions the Company routinely receives from analysts and investors and, in order to assure that all investors have access to similar data, the

Company has determined that it is appropriate to make this data available to all investors. However, non-GAAP measures are not prepared in accordance with GAAP nor do they have any standardized meaning under GAAP. In addition, other companies may

use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar non-GAAP measures. We caution investors not to

place undue reliance on such non-GAAP measures, but instead to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation. They should be

considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. The reconciliations of these historic non-GAAP measures to the most directly comparable financial measures calculated

and presented in accordance with GAAP are shown in the appendix hereto. However, for guidance and expected CAGR purposes, the Company does not provide reconciliations of projected Adjusted EBITDA (non-GAAP) to projected GAAP net income (loss), due

to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for

forecasting the GAAP equivalent for certain costs, such as amortization, that would otherwise be treated as a non-GAAP adjustment to calculate projected GAAP net income (loss). However, because other deductions (e.g., restructuring, gain or loss on

extinguishment of debt and litigation and other matters) used to calculate projected net income (loss) may vary significantly based on actual events, the Company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed

in order to provide a GAAP calculation of projected net income (loss) at this time. The amounts of these deductions may be material and, therefore, could result in GAAP net income (loss) being materially different from (including materially less

than) projected Adjusted EBITDA (non-GAAP). Non-GAAP Information

Introductions - Board of

Directors Joseph C. Papa Chairman Richard U. De Schutter D. Robert Hale Argeris (Jerry) N. Karabelas John A. Paulson Robert N. Power Russel C. Robertson Thomas W. Ross, Sr. Dr. Amy B. Wechsler Sarah B. Kavanagh Andrew C. von Eschenbach,

Remarks from Chairman & CEO Joseph

C. Papa 2019 Annual Meeting of Shareholders April 30, 2019

Impact on the World Today Every day

more than 150 million people around the world use a Bausch Health product.

Our Mission and Values Quality Health

Care Outcomes Customer Focused Innovation Efficiency People OUR VISION TO BE YOUR TRUSTED HEALTH CARE PARTNER MISSION To Improve People's Lives With Our Health Care Products

Company Highlights Strong Execution

Across Total Company 2% total Company organic revenue growth1,2 during FY18 versus FY17; First year of total Company organic revenue growth1,2 since 2015 All four quarters in 2018 saw organic revenue growth1,2 77% of Bausch Health's total

revenue was generated from the Bausch + Lomb/International and the Salix segments, which saw combined 6% organic revenue growth1,2 during FY18 compared to FY17 Organic revenue growth1,2 seen across all five Bausch + Lomb/International reporting

businesses during FY18 compared to FY17 Top 10 products in aggregate across the Company delivered 11% organic revenue growth1,2 during FY18 versus FY17 ~$1,500M of cash generated from operations during 2018 R&D increased >30% in 4Q18 compared

to 4Q17 and ~15% in FY18 vs. FY17 Gross profit margin: Improved by 110 bps to 71.9% in FY18 vs. FY17 and by 150 bps to 71.6% in 4Q18 vs. 4Q17 Resolved XIFAXAN IP litigation: Preserved market exclusivity until 20283 with no financial payments

made by BHC See Slide 2 and Appendix for further non-GAAP information. Organic revenue growth, a non-GAAP metric, is defined as an increase on a year-over-year basis in revenues on a constant currency basis (if applicable) excluding the impact of

divestitures and discontinuations. Actavis will be able to begin marketing the medicine earlier if another generic rifaximin product is granted approval and starts selling or distributing such generic rifaximin product before Jan. 1,

Company Highlights Driving Growth with

New Pipeline and Promoted Products ~250 projects in our global pipeline and anticipate submitting over 125 of those projects for regulatory approval in 2019 and 2020 DUOBRII (Received FDA Approval and Launch Expected in June) 10 key product

launches, including two co-promotions, during 2018 Four Significant Seven products launched in 2018: VYZULTA (Launch began Dec. 2017), LUMIFY , AQUALOX (SiHy daily) and BRYHALI Reduced and Refinanced Debt Repaid >$1B of

debt in 2018 with cash generated from operations ~$8.3B of debt refinanced in 2018 to extend maturities and provide more flexibility Bausch + Lomb ULTRA Multifocal for Astigmatism 1 1 1. Co-promotion arrangement with third party.

Durable and Strong International

Presence CLI, Euromonitor and internal estimates. IMS and internal estimates. IQVIA and GERS. IMS/IQVIA Dec. 2018 and based on the evolution index performance 109. IMS November 2018 YTD. IMS/IQVIA Dec. 2018. Bausch + Lomb vision care is the leader

(#1) in key emerging markets (China, Thailand and India), which represent ~40% of the world's population and are the fastest growing markets1 #1 in Eye Drops in China2 #1 in Anti-fungal with Jublia in Canada3 #1 Fastest Growing Company

in Mexico4 #1 in Vitamin Segment in Mexico6 #1 Pharmaceutical company in private market and #2 in total market in Egypt5 #1 in OTC Eye Drop Market in France3 58% of Bausch Health is not exposed to U.S. branded prescription pricing

Full-Year Guidance Targets

Throughout 2018 FY 2018 Guidance as of February 2018 FY 2018 Guidance as of May 2018 FY 2018 Guidance as of August 2018 FY 2018 Guidance as of November 2018 FY 2018 Reported Results Revenue $8.10B to $8.30B $8.15B to $8.35B $8.15B to $8.35B $8.15B

to $8.35B $8.38B Adj. EBITDA (non-GAAP)1 $3.05B to $3.20B $3.15B to $3.30B $3.20B to $3.35B $3.30B to $3.45B $3.47B Raised and met 2018 Full-Year Revenue and Adj. EBITDA (non-GAAP)1 guidance range despite the significant foreign exchange headwinds

and planned channel inventory reduction See Slide 2 and Appendix for further non-GAAP information.

Bausch + Lomb/International and

Salix are driving the pivot to offense 77% of the total company generated 6% organic revenue growth1,2 during 2018 Bausch + Lomb/International 56% Salix 21% Ortho Dermatologics 7% Diversified Products 16% Global Vision Care Global Surgical Global

Consumer Global Ophtho Rx International Rx +8% +3% +3% +2% +2% 56% of total company generated 4% organic revenue growth1,2 during 2018 21% of total company generated 12% organic revenue growth1,2 during 2018 See Slide 2 and Appendix for further

non-GAAP information. Organic revenue growth, a non-GAAP metric, is defined as an increase on a year-over-year basis in revenues on a constant currency basis (if applicable) excluding the impact of divestitures and discontinuations. Bausch Health:

2018: Reported revenue growth of 22%

in FY18 vs. FY17; Resolved XIFAXAN IP litigation which preserved market exclusivity until 20281 with no financial payments made by Bausch Health 2019 & Beyond: Focus on the large untapped market Actavis will be able to begin marketing the

medicine earlier if another generic rifaximin product is granted approval and starts selling or distributing such generic rifaximin product before Jan. 1, 2028. IQVIA NPA weekly (Q4 2018). Completed the acquisition of certain assets of Synergy

Pharmaceuticals TRULANCE for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation (IBS-C) Pipeline: Investigational compound dolcanatide, which has demonstrated proof-of-concept in treating patients with

multiple GI conditions XIFAXAN Helping to Drive the Pivot to Offense Bolt-on Acquisition IBS-D Market Opportunity (in TRx Volume)2 XIFAXAN Competitor Antispasmodic Antidiarrheals >90% of the market remains untapped

IQVIA as of Feb 2019. Retail Dollar

Share for total United States (MULO) for 4 weeks ending Feb. 10, 2019, according to IRI. IQVIA for three month through 3/29/19. Product Launch Success Helping to Drive the Pivot to Offense BRYHALI Launched Nov. 2018 #1 most prescribed branded

single-agent steroid for psoriasis by dermatologists3 RELISTOR Launched Sept. 2016 Achieved a monthly TRx retail dollar market share of >35% in the opioid-induced constipation category1 LUMIFY Launched May 2018 #1 in Redness Reliever

category with ~28% market share2 VYZULTA : TRx weekly scripts grew >50% in 4Q18 vs. 3Q18 SILIQTM: Reported $6M in U.S. sales during 4Q18; TRx weekly scripts saw >30% TRx growth in 4Q18 versus 3Q18 RETIN-A MICRO 0.06% and 0.08%: TRx

weekly scripts saw >10% TRx growth in 1Q19 versus 1Q18

Over $1B Significant Seven New

Product Launches Expected to Drive Long-Term Growth Launched Sept. 2016 RELISTOR (methylnatrexone bromide) Launched Dec. 2017 VYZULTA (latanoprostene bunod ophthalmic solution) Launched July 2017 Launched May 2018 First Launch Sept.

20181; Plans for global rollout <$100M in annualized revenues as of end of 2017 Expected annualized peak total revenues by the end of 2022 (SiHy Daily) Launched Nov. 2018 2017 ~$75M 2018 >$150M 2019 ~$300M2 2020 2021 2022 In Japan. Expected.

See slide 1 for further information regarding forward-looking information. Received FDA Approval and Launch Expected in June

Bausch Health expects 3-year CAGR2

from the mid-point of our 2019 guidance of revenue growth of 4% - 6% and Adjusted EBITDA (non-GAAP)1 growth of 5% - 8% over 2019-2022 (constant currency 1) Expect reported revenue for total company to grow in 2019 vs. 2018, at or above the mid-point

of guidance and at current FX rates Expected cash generated from operations of $1.5B to $1.6B >$1B to be used to reduce debt and/or for "bolt-on" acquisitions R&D investment expected to grow by ~10% in 2019 vs. 2018 Revenue

generated from the Significant Seven expected to approximately double in 2019 vs. 2018 Continued improvement in operational efficiency (i.e. Project CORE) expected to deliver >$75M of operating profit during 2019 2019: Pivot to Offense Year of

Growth for Bausch Health3 See Slide 2 and Appendix for further non-GAAP information. Compound Annual Growth Rate. See slide 1 for further information regarding forward-looking information.

Non-GAAP Appendix Description of

Non-GAAP Financial Measures To supplement the financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures, as follows. These measures do not have any

standardized meaning under GAAP and other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to

similar non-GAAP measures. We caution investors not to place undue reliance on such non-GAAP measures, but instead to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and

should not be considered in isolation. They should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Adjusted EBITDA (non-GAAP) Adjusted EBITDA (non-GAAP) is GAAP

net (loss) income (its most directly comparable GAAP financial measure) adjusted for certain items, as further described in the following slides. Management of the Company believes that Adjusted EBITDA (non-GAAP), along with the GAAP measures used

by management, most appropriately reflect how the Company measures the business internally and sets operational goals and incentives, especially in light of the Company's new strategies. In particular, the Company believes that Adjusted EBITDA

(non-GAAP) focuses management on the Company's underlying operational results and business performance. As a result, the Company uses Adjusted EBITDA (non-GAAP) both to assess the actual financial performance of the Company and to forecast future

results as part of its guidance. Management believes Adjusted EBITDA (non-GAAP) is a useful measure to evaluate current performance. Adjusted EBITDA (non-GAAP) is intended to show our unleveraged, pre-tax operating results and therefore reflects our

financial performance based on operational factors. In addition, cash bonuses for the Company's executive officers and other key employees are based, in part, on the achievement of certain Adjusted EBITDA (non-GAAP) targets. . Description of

Non-GAAP Financial Measures Adjusted EBITDA (non-GAAP) Adjusted EBITDA (non-GAAP) Adjustments Organic Revenue Growth Constant Currency

Non-GAAP Appendix Adjusted EBITDA

reflects adjustments based on the following items: Restructuring and integration costs: The Company has incurred restructuring costs as it implemented certain strategies, which involved, among other things, improvements to its infrastructure and

operations, internal reorganizations and impacts from the divestiture of assets and businesses. In addition, in connection with the its acquisition of certain assets of Synergy, the Company has incurred certain severance and integration costs which

were not essential to complete, close or report the acquisition. With regard to infrastructure and operational improvements which the Company has taken to improve efficiencies in the businesses and facilities, these tend to be costs intended to

right size the business or organization that fluctuate significantly between periods in amount, size and timing, depending on the improvement project, reorganization or transaction. With regard to the severance and integration costs associated with