Bausch Health vs Walmart: Founders, CEOs and History
Bausch Health was founded in 1994 by Eugene Melnyk, Milan Panic and is led by Thomas J. Appio. Walmart was founded in 1962 by Sam Walton and is led by John Furner.
Company facts
Bausch Health
- Founded
- 1994
- Headquarters
- Laval, Quebec, Canada
- Current CEO
- Thomas J. Appio
- Employees
- 20,300
Walmart
- Founded
- 1962
- Headquarters
- Bentonville, Arkansas
- Current CEO
- John Furner
- Employees
- 2,100,000
Founders
Bausch Health
Eugene Melnyk
Eugene Melnyk built Biovail into Canada's largest publicly traded pharmaceutical company, with revenue growing from about $19M in 1995 to roughly $1.07B in 2006.
Milan Panic
Milan Panic ran ICN Pharmaceuticals for four decades and made it known for the broad-spectrum antiviral ribavirin, sold as Virazole.
Walmart
Sam Walton
Sam Walton opened the first Walmart Discount City in Rogers, Arkansas in 1962 and built the company around low prices, low costs, and its own distribution network. He served as CEO until 1988 and remained chairman until his death in 1992.
CEOs and their tenures
Bausch Health
- J. Michael Pearson2008–2016
Former Chief Executive Officer
Pearson, a former McKinsey director, became chief executive of Valeant Pharmaceuticals effective February 1, 2008 and ran the company through the September 2010 merger with Canada's Biovail until early May 2016.
Source - Joseph C. Papa2016–2022
Former Chief Executive Officer
Papa, previously chief executive of Perrigo, was named chairman and CEO in April 2016 and took over in early May 2016, inheriting about $30B of debt, an SEC investigation and congressional scrutiny of Valeant-era drug pricing.
Source - Thomas J. Appio2022–present
Chief Executive Officer
Appio became chief executive officer and a director in May 2022, succeeding Joseph Papa.
Source
Walmart
- Sam Walton1962–1988
Founder and CEO
Founded Walmart and set its low-price, low-cost operating approach.
Source - Doug McMillon2014–2026
Former President and CEO
Led Walmart's push into ecommerce, marketplace, advertising, and store-fulfilled delivery, and oversaw the Jet.com, Flipkart, and VIZIO deals.
Source - Greg Penner2015–present
Chairman of the Board
He successfully managed the transition of corporate leadership to Doug McMillon and actively oversees the Walton family's controlling stake in the retail giant.
Source - John David Rainey2022–present
Executive Vice President and CFO
As CFO, he aggressively executed multi-billion-dollar share repurchases while funding massive capital expenditures for store remodels and automation.
Source - John Furner2026–present
President and CEO
Became President and CEO on February 1, 2026, succeeding Doug McMillon. He reshaped the executive team with internal promotions in January 2026.
Source - David Guggina2026–present
President and CEO, Walmart U.S.
As head of supply chain operations, he modernized the underlying logistics network that allowed Walmart to successfully compete with Amazon's two-day delivery speeds.
Source
Timeline: Bausch Health and Walmart side by side
1959Bausch Health
Milan Panic founds ICN Pharmaceuticals
Milan Panic, a Yugoslav immigrant to California, founded ICN Pharmaceuticals in 1959 and ran it for four decades. ICN is the predecessor of Valeant Pharmaceuticals and of today's Bausch Health.
1962Walmart
First Walmart Opens
Sam Walton opens the first Walmart Discount City in Rogers, Arkansas.
1970Walmart
Walmart Goes Public
Walmart sells shares to the public to fund expansion.
1983Walmart
Sam's Club Launches
The first Sam's Club warehouse club opens in Midwest City, Oklahoma.
1988Walmart
First Supercenter and New CEO
Walmart opens its first supercenter, and David Glass succeeds Sam Walton as CEO.
1994Bausch Health
Biovail Corporation International formed in Canada
On March 29, 1994 Eugene Melnyk consolidated his Canadian drug-delivery business by amalgamating Trimel Corporation with its subsidiary to create Biovail Corporation International, the legal entity that files today as Bausch Health Companies Inc.
2000Walmart
Lee Scott Becomes CEO
Lee Scott succeeds David Glass as CEO.
2003Bausch Health
ICN renames itself Valeant Pharmaceuticals
ICN Pharmaceuticals, then based in Costa Mesa, California, took the Valeant Pharmaceuticals name in November 2003 to distance itself from the governance fights of the Panic era.
2008Bausch Health
J. Michael Pearson becomes chief executive
Valeant appointed former McKinsey director J. Michael Pearson as chief executive effective February 1, 2008, succeeding Timothy C. Tyson. Pearson replaced internal research spending with debt-funded acquisitions of marketed drugs.
2010Bausch Health
Biovail and Valeant complete their merger
The merger of Biovail Corporation and Valeant Pharmaceuticals International closed on September 28, 2010. The combined company kept the Valeant name and Pearson as chief executive but was incorporated in Canada.
2011Bausch Health
Ortho Dermatologics bought from Johnson and Johnson
Valeant agreed to acquire the U.S. Ortho Dermatologics assets from Janssen Pharmaceuticals, a Johnson and Johnson company, for about $345M in cash, building the dermatology franchise.
2013Bausch Health
Bausch + Lomb acquired for $8.7 billion
Valeant agreed in May 2013 to buy eye-health company Bausch + Lomb from Warburg Pincus for $8.7B in cash, adding contact lenses, lens care, ophthalmic drugs and surgical devices.
2014Walmart
Doug McMillon Becomes CEO
Doug McMillon, who started as an hourly associate in 1984, becomes CEO.
2015Bausch Health
Salix acquisition closes at about $11.1 billion
Valeant completed its tender offer for Salix Pharmaceuticals on April 1, 2015 at $173 per share, about $11.1B in equity value and roughly $15.8B including debt, gaining the Xifaxan franchise.
2015Bausch Health
Drug pricing and Philidor scandal breaks
Congressional investigators pressed Valeant over 525% and 212% increases on the heart drugs Isuprel and Nitropress, bought in February 2015, and over its undisclosed ties to the Philidor mail-order pharmacy.
2016Bausch Health
Joseph Papa replaces Pearson as chief executive
Valeant named Perrigo chief executive Joseph C. Papa as chairman and CEO on April 25, 2016, and he took over in early May 2016 with about $30B of debt outstanding.
2016Walmart
Jet.com Acquisition
Walmart buys Jet.com for about $3.3 billion to strengthen its U.S. ecommerce team.
2017Bausch Health
Skincare brands and Dendreon sold to cut debt
Valeant sold the CeraVe, AcneFree and AMBI skincare brands to L'Oreal for about $1.3B and the Dendreon cancer unit to China's Sanpower Group for about $820M, using the proceeds to repay debt.
2018Bausch Health
Company renamed Bausch Health Companies Inc.
The name change from Valeant Pharmaceuticals International, Inc. to Bausch Health Companies Inc. was completed on July 13, 2018, and the shares began trading as BHC on the NYSE and TSX on July 16, 2018.
2018Walmart
Flipkart Investment
Walmart acquires a majority stake in Flipkart for about $16 billion.
2020Bausch Health
SEC settlement closes the Philidor accounting case
On July 31, 2020 Bausch Health agreed to pay a $45M civil penalty to settle SEC charges of improper revenue recognition and misleading disclosures tied to Philidor. Former chief executive J. Michael Pearson and two other executives also settled.
2022Bausch Health
Bausch + Lomb listed on the NYSE and TSX
Bausch + Lomb common stock began trading under the ticker BLCO on May 6, 2022, and a Bausch Health subsidiary sold 35,000,000 Bausch + Lomb shares in the offering. Bausch Health retained about 88% of the eye-health company and still consolidates it. Thomas J.
2024Walmart
VIZIO Acquisition
Walmart completes its $2.3 billion purchase of smart-TV maker VIZIO to expand its advertising business.
2025Bausch Health
DURECT acquired and record annual revenue reported
Bausch Health closed the DURECT acquisition on September 11, 2025 for about $63M upfront, completed Solta Medical's Chinese aesthetics distribution purchase on December 1, 2025, and reported FY2025 revenue of $10.266B, up 7%, with net income attributable to Ba…
2026Bausch Health
RED-C trials miss endpoints and trigger a $1.4 billion charge
In January 2026 the two Phase 3 RED-C trials of amorphous-rifaximin soluble solid dispersion for primary prevention of hepatic encephalopathy missed their primary endpoints.
2026Bausch Health
Second-quarter 2026 revenue of $2.85 billion and raised guidance
Bausch Health reported second-quarter 2026 revenue of $2.85B, up 13%, net income attributable to Bausch Health of $258M and adjusted EBITDA of $1.075B, and raised its full-year 2026 revenue, adjusted EBITDA and cash flow guidance.
2026Walmart
John Furner Becomes CEO
John Furner succeeds Doug McMillon as President and CEO effective February 1, 2026; David Guggina takes over Walmart U.S.
2026Walmart
Q2 FY27 Results
Walmart reports Q2 FY27 revenue of $187.9 billion, up 5.9%, and raises full-year sales and operating income guidance.
Acquisitions
Bausch Health
- DURECT Corporation2025$63M
- Shibo Zhenmei aesthetics distribution business2025Undisclosed
- Salix Pharmaceuticals2015$11.1B
- Bausch + Lomb Holdings2013$8.7B
- Ortho Dermatologics2011$345M
Questions about Bausch Health vs Walmart
Who is the CEO of Bausch Health Companies Inc. and Walmart Inc.?
Bausch Health Companies Inc. is led by Thomas J. Appio and Walmart Inc. is led by John Furner. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bausch Health Companies Inc. founded vs Walmart Inc.?
Walmart Inc. was founded in 1962 — 32 years before Bausch Health Companies Inc., which was founded in 1994. Walmart Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Bausch Health Companies Inc..
How many employees does Bausch Health Companies Inc. have compared to Walmart Inc.?
Bausch Health Companies Inc. employs approximately 20,300 people, while Walmart Inc. employs approximately 2,100,000. Walmart Inc. has the larger workforce at 2,100,000 employees, compared to Bausch Health Companies Inc.'s 20,300. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bausch Health Companies Inc. and Walmart Inc. headquartered?
Bausch Health Companies Inc. is headquartered in Canada and Walmart Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Bausch Health Companies Inc. and Walmart Inc.?
Bausch Health Companies Inc. was founded by Eugene Melnyk, Milan Panic. Walmart Inc. was founded by Sam Walton.
Which company has a longer operating history — Bausch Health Companies Inc. or Walmart Inc.?
Walmart Inc. has been operating for approximately 64 years, making it the more established of the two companies. Bausch Health Companies Inc. has been in operation for around 32 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bausch Health vs Walmart overview