Bausch Health jumps as Jefferies turns bullish

Bausch Health Companies

20/09/2023 15:24

** U.S.-listed shares of Bausch Health Cos  BHC.TO  rise
7.6% to $8.31 after Jefferies upgrades stock to "buy" from
"hold" and raises PT to $16 from $9
    ** Jefferies says co will "ultimately prevail in the Xifaxan
litigation", which claims that parts of patents related to BHC
subsidiary Salix Pharmaceuticals' drug, Xifaxan, are not valid
    ** On Sept. 18, Bausch CFO Tom Vadaketh resigned, triggering
8.5% drop in shares
    ** "CFO departure bears monitoring but likely unrelated to
strategic path" - Jefferies
    ** Including session moves, shares up 30.2% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))