One of Bausch's key new drugs already facing generic challenge, says Wells Fargo
Wells Fargo analyst David Maris noted that an update posted on June 18 by the FDA revealed that a Paragraph IV challenge of Bausch Health's Bryhali was filed on March 20. The analyst, who explained that a Paragraph IV filing is made when a generic filer asserts either non-infringement or invalidity of branded product patents, called Bryhali one of Bausch's "key new drugs," noting that the company included it in what it has dubbed its "Significant Seven" products. A Paragraph IV filing does not mean a generic is imminent, said Maris, who also noted that such filings often result in settlements. The analyst, who said he is awaiting a reply from Bausch about this situation and whether it has sued the filing company, keeps an Underperform rating on Bausch Health shares.