A U.S. appeals court on Thursday affirmed a decision for Bausch Health that barred rival drugmaker Alvogen from marketing a proposed generic version of Bausch's diarrhea treatment Xifaxan until 2029. A Delaware federal court had determined that Alvogen subsidiary Norwich Pharmaceuticals' generic would infringe patents owned by Bausch's Salix Pharmaceuticals.
Bausch (BHC) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Canada's main stock index ended flat on Monday, as gains in financials and industrial stocks were offset by losses in healthcare driven by Bausch Health. Investors were cautious ahead of Wednesday's Bank of Canada interest rate decision, when the central bank is expected to hold rates steady, and release new economic growth projections. The Toronto Stock Exchange's S&P/TSX composite index was down 4.08 points, or 0.02%, at 22,260.30.