Why Bausch Health Companies Stock Sank Today
Shares of Bausch Health Companies (NYSE: BHC) were sinking by 8.6% as of 2:51 p.m. EDT on Tuesday. The decline came after Bausch Health announced that it had filed a lawsuit against Novartis (NYSE: NVS) subsidiary Sandoz, related to alleged infringement of patents for diarrhea drug Xifaxan.
Bausch Health's lawsuit was a reaction to Sandoz's filing of an Abbreviated New Drug Application (ANDA), in hopes of receiving approval to market a generic version of Xifaxan 550 mg tablets. Bausch Health maintains that this ANDA filing infringes on 14 patents for Xifaxan.
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Source Fool.com
