When trading begins Sept. 19, the maker of pharmaceuticals, medical devices and personal-care products will be off the list of Canadian companies with big market capitalizations. It’s being replaced by Tourmaline Oil, a major oil and natural-gas producer. (The Logic)

Talking point: Bausch Health has more than $3 billion worth of outstanding shares but their price has plunged from more than $40 apiece in February 2021 to under $10. The former Valeant Pharmaceuticals bought the Bausch + Lomb eye-care company for US$8.7 billion in 2013, and is now spinning that subsidiary out again; it accounted for 45 per cent of Bausch Health’s revenue last year. Corporate manoeuvres like mergers, acquisitions and restructurings are the main reason for crossing companies off the S&P/TSX 60 Index, according to S&P Dow Jones Indices.