Bausch Health Trades Higher On FDA Approval Of Psoriasis Treatment

Bausch Health Companies Inc (NYSE: BHC) shares were on the rise Thursday after the company announced federal regulators have approved its new psoriasis lotion.

Bausch announced that it received FDA approval for Duobrii, a topical treatment for plaque psoriasis. Trading was halted for a time on Thursday after the afternoon announcement. 

The new treatment is expected to be a major revenue driver for the company, formerly known as Valeant Pharmaceuticals.

Duobrii is expected to be available for patients in June. The company said the lotion will be the first to combine the drugs halobetasol propionate and tazarotene in one medicine. Psoriasis is a chronic skin condition.

“We believe that Duobrii has the potential to delay some patients from switching to more expensive biologic treatments, which could potentially result in health care savings,” Bill Humphries, president of Bausch’s dermatology business Ortho Dermatologics, said in a statement. 

The company said Duobrii will cost $825 for a 100-gram tube, more than 50-percent lower than other branded topical combination products.

Price Action

Bausch Health shares were up 3 percent at $23.70 at the time of publication Thursday. 

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