Bausch Health (BHC) stock: why it rose 10.45%
- Bausch Health (BHC) stock price rose 10.45% in the last trading session. That is why.
Bausch Health (BHC) stock price rose 10.45% in the last trading session.
Why: Bausch Health Companies and its gastroenterology business Salix Pharmaceuticals have responded to the U.S. Food and Drug Administration (FDA) interim approval of the Norwich Pharmaceuticals rifaximin 200mg product.
Submission of paragraph III: The company understands that this was a paragraph III filing. And a Paragraph III filing is made when an Abbreviated New Drug Application (ANDA) applicant does not intend to market their generic product before patent expiration. Thus, the FDA will not grant full approval until the last of the patents listed in the Company’s Orange Book for the XIFAXAN (rifaximin) 200mg product expires on July 24, 2029.
Research report: Piper Sandler analyst David Amsellem gave the company a price target of $6 while maintaining a “neutral” rating on the stock. And Amsellem noted that even though prescription volumes for the 200mg strength represent only 2% of overall Xifaxan volumes, the presence of a generic of this strength could prove disruptive for the brand.