Bausch Health (BHC) yesterday announced an important settlement for Xifaxan with first to file Teva (TEVA), allowing for generic entry in January of 2028, Jefferies analyst David Steinberg tells investors in a research note. One could argue the settlement takes Bausch’s bankruptcy risk off the table given the “long runway and greater certainty to future cash flows” from what is the company’s most important drug, the analyst contends. Further, the deal could also allow the company to refinance its debt at more attractive terms. Steinberg keeps a Buy rating on Bausch Health with a $27 price target.
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