Bausch Health Companies Inc. - BHC STOCK NEWS

Bausch Health Companies Inc. (NYSE:BHC)(TSX:BHC) has announced two new additions to its Executive Leadership Team. Jean-Jacques Charhon will join as Chief Financial Officer on August 19, 2024, bringing over 25 years of financial leadership experience from companies like General Electric, Hewlett Packard, Novartis, and Purdue Pharma. Aimee Lenar joined on July 15, 2024, as Executive Vice President, US Pharma, overseeing Salix Pharmaceuticals, Neurology, Generics, Market Access, and Commercial Operations. Lenar has over 20 years of pharmaceutical industry experience, most recently at Galderma.

CEO Thomas J. Appio expressed confidence that these appointments will drive the company's transformation towards becoming a globally integrated and innovative healthcare company. John Barresi, who served as Interim CFO, will resume his role as SVP, Controller.

Bausch Health Companies (NYSE:BHC, TSX:BHC) will announce its second quarter 2024 financial results on August 1, 2024. The company will hold a conference call and live webcast at 8:00 a.m. U.S. EST on the same day to discuss the results and provide a business update. All related materials will be available on the Investor Relations section of Bausch Health's website before the call begins. A replay of the conference call will be accessible on the investor relations website. Interested participants can register for the live Q&A session via a provided link.

Bausch Health announced that it has filed a patent infringement lawsuit against Norwich Pharmaceuticals in the U.S. District Court for the District of New Jersey. This action follows a Notice of Paragraph IV Certification received on May 10, 2024, from Norwich, indicating their submission of an amendment to an Abbreviated New Drug Application (ANDA) to the FDA. This amendment seeks approval to market a generic version of XIFAXAN® (rifaximin) 550 mg tablets, used for treating diarrhea-predominant irritable bowel syndrome (IBS-D). Bausch Health has a history of defending its XIFAXAN® intellectual property, evidenced by a 2022 U.S. District Court ruling that blocked Norwich's first ANDA until October 2029. The company has since obtained additional patents related to XIFAXAN® 550 mg. Bausch Health is determined to protect its intellectual property and ensure patient safety and access to XIFAXAN®.

Bausch Health (NYSE:BHC) presented promising data from two recent clinical trials at major international healthcare conferences. At Digestive Disease Week 2024, Bausch Health shared positive results from a Phase 2 study of Amiselimod for treating mild to moderate ulcerative colitis. Both doses showed significant improvement in the Modified Mayo Score and higher rates of endoscopic improvement and clinical remission compared to placebo. Amiselimod was well-tolerated over the 12-week period.

Additionally, at the International Liver Congress 2024, Bausch Health presented pooled data analysis of Rifaximin for preventing overt hepatic encephalopathy (OHE) recurrence in cirrhosis patients. Rifaximin monotherapy significantly reduced the risk of OHE episodes and was well-tolerated compared to lactulose monotherapy.

Bausch Health, Canada announced additional public drug plan listings for PrUCERIS (budesonide) aerosol foam, expanding access for adults with mild to moderate distal ulcerative colitis. New listings include Alberta, Prince Edward Island, Newfoundland and Labrador, and federal plans for Indigenous people and Veterans. Previously, UCERIS was available in Ontario, Quebec, Saskatchewan, New Brunswick, and Nova Scotia. UCERIS, approved in Canada since September 2023, offers a unique glucocorticosteroid rectal foam for remission induction. Clinical trials showed superior efficacy over placebo in remission and rectal bleeding control at Week 6.

Bausch Health Companies (NYSE:BHC)(TSX:BHC) and its gastroenterology unit, Salix Pharmaceuticals, will present late-breaking data from a Phase 2 trial of Amiselimod for active ulcerative colitis (UC) at Digestive Disease Week 2024. The presentation, scheduled for May 19, 2024, in Washington D.C., will highlight Amiselimod's potential as an oral treatment for UC remission. The 12-week, double-blind, placebo-controlled study involved 320 patients and showed positive topline results, as announced in December 2023. The abstract, titled "Amiselimod for the treatment of active ulcerative colitis," authored by Stephen B. Hanauer et al., emphasizes Bausch's commitment to innovative UC therapies.

Bausch Health (NYSE:BHC, TSX:BHC) announced the results of its 2024 annual meeting of shareholders held on May 14, 2024. All 10 nominated directors were elected with Thomas J. Appio receiving 181,373,219 votes for and 10,918,741 votes withheld. Shareholders approved the compensation of the named executive officers, an amendment to the 2014 Omnibus Incentive Plan, and the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm. The final vote results will be reported to the U.S. SEC on Form 8-K and will be available on SEDAR and the company's website.

Bausch Health Companies (NYSE:BHC, TSX:BHC) and Salix Pharmaceuticals updated on their litigation with Norwich Pharmaceuticals. Following the US Court of Appeals' April 11, 2024 decision, both companies filed for rehearing. They expect a decision within three months. Additionally, on May 10, 2024, Norwich filed an amendment to their ANDA with the FDA, seeking approval for a generic XIFAXAN® (rifaximin) 550 mg tablets for IBS-D treatment. Bausch has 45 days to file a patent infringement lawsuit, which would delay FDA approval of Norwich's ANDA by up to 30 months or until a court decision.

Salix Pharmaceuticals, a subsidiary of Bausch Health Companies Inc. (NYSE:BHC), announces Bellamy Young as the spokesperson for Xifaxan, the first FDA approved medication for reducing the risk of OHE recurrence in adults with cirrhosis. Overt Hepatic Encephalopathy is a serious complication of liver cirrhosis, affecting up to 80% of patients. Young aims to raise awareness and share her personal OHE experience to educate patients and caregivers about the management options available through the Xifaxan campaign.