Denial of Norwich’s injunction motion ‘slightly positive’ for Bausch, says RBC

RBC Capital tells investors in a research note that on Wednesday, a district court made a ruling in the Norwich vs. FDA litigation, denying Norwich’s motion for a preliminary injunction and granting the FDA’s and Salix’s cross-motions for summary judgment. The firm views the ruling is slightly positive for Bausch Health, as Norwich will not be granted an immediate final approval for its rifaximin ANDA. RBC made no change to the firm’s Sector Perform rating on Bausch Health.