Bausch Health Cos. fell after the company said its treatment for a liver condition fell short of its goals in two late-stage trials.
The studies evaluated its drug for hepatic encephalopathy, a brain disorder caused by the liver failing to filter toxins from the blood. There’s currently no approved treatment for the condition.
Bausch said its drug was safe and well-tolerated, but didn’t disclose more details about the trials.
Shares of Bausch Health fell as much as 10% when markets opened Friday in New York. They had declined 16% over the past year, through Thursday’s close.
The company was “disappointed” ...