Bausch Health stock plummets toward 27-year low after Bloomberg report of unfavorable court ruling

Shares of Bausch Health Companies Inc. suffered a near-record plunge of 50.3% in volatile afternoon trading Thursday before a trading halt, after Bloomberg reported that some of the drug and medical device maker’s patent claims tied to its treatment for irritable bowel syndrome, Xifaxan, were invalid. The stock was halted for volatility three times in morning trading before being halted for news since 10:33 a.m. Eastern. The stock was headed for the biggest one-day drop since the record 51.5% drop on March 15, 2016, and for the lowest close since November 1995. The unfavorable court ruling comes after the company said…


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