- Bausch Health Companies ( NYSE: BHC ) is appealing a federal court decision handed down Wednesday that declared several patents related to its drug Xifaxan (rifaximin) invalid.
- The U.S. District Court of Delaware found that patents related to the drug's composition and irritable bowel syndrome with diarrhea indication are invalid.
- The company is appealing to the U.S. Court of Appeals for the Federal Circuit which it expects to rule in 12-18 months.
- The decision is considered a victory for generic drugmaker Norwich Pharmaceuticals which has filed an Abbreviated New Drug Application (ANDA) for a Xifaxan generic.
- After the Delaware judge indicated in an order in late July that patents would likely be declared invalid, Bausch's ( BHC ) stock price plummeted. At that time, the company said it would appeal .
- In its Q2 2022 results released Tuesday. Bausch ( BHC ) said it was slashing its full-year guidance .
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Bausch Health to formally appeal Xifaxan patent ruling