Bausch Health Cos. plummeted 41 percent to its lowest since 1995 after a judge indicated he’ll toss parts of patents tied to its Xifaxan drug for treating irritable bowel syndrome with diarrhea, clearing an obstacle for Norwich Pharmaceuticals Inc.'s proposed generic.
Judge Richard G. Andrews of the US District Court for the District of Delaware ordered Thursday that some patent claims involving the name-brand drug for IBS are invalid, but he upheld others related to treating neurological symptoms of liver disease. The shares fell to $5.10 in New York after trading was halted on the news.
The company indicated it ...
