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Why Bausch Health Stock Is Bolting Higher Today

TheMotleyFool

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Why Bausch Health Stock Is Bolting Higher TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Shares of the specialty pharmaceutical company Bausch Health Companies (NYSE: BHC) are surging today in response to the news that Joseph Papa has resigned from the board of directors effective immediately. Specifically, the drugmaker's shares were up by a noteworthy 15.9% as of 10:56 a.m. ET Friday.

Over the past six years, Papa has been instrumental in lowering the company's sky-high debt and keeping it out of bankruptcy court. That said, Bausch's turnaround has hit multiple obstacles in 2022.

Image source: Getty Images.

Source Fool.com

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