Fly News Breaks for December 12, 2019
Dec 12, 2019 | 07:40 EDT
JPMorgan analyst Chris Schott upgraded Bausch Health Companies to Overweight from Neutral with a price target of $38, up from $32. The shares closed Wednesday up 9c to $29.33. The fundamentals for Bausch "looking increasingly solid" while the shares are trading at only a modest premium relative to the broader Specialty Pharma group, Schott tells investors in a research note. Over the past several quarters, Bausch's business has successfully transitioned away from legacy issues and towards more "normalized" operations, contends the analyst. Further, he believes the company is well positioned for both sales and EBITDA growth in 2020 with loss of exclusivities slowing relative to the past several years. Schott also sees a longer-term path for Bausch to unlock value by separating out its "highly-attractive" eye care business.
News For BHC From the Last 2 Days
Nov 24, 2020 | 07:12 EST
Bausch Health Companies and Bausch + Lomb, its leading global eye health business, announced that the Company has initiated the second of two Phase 3 studies evaluating the investigational treatment NOV03, or perfluorohexyloctane, as a first-in-class investigational drug with a novel mechanism of action to treat the signs and symptoms of Dry Eye Disease, or DED, associated with Meibomian gland dysfunction, or MGD. Enrollment of the first Phase 3 study is currently underway and has reached 85% of its enrollment goal. NOV03 is an investigational, proprietary, water-free and preservative-free solution, based on patented EyeSol technology from Novaliq GmbH1. DED is a chronic and serious disease of the ocular surface.