Bausch Health moves to put litigation and debt behind it

Canadian drugmaker Bausch Health (TXS: BHC), has agreed to resolve outstanding intellectual property litigation with Israel’s Teva Pharmaceutical Industries (NYSE: TEVA), related to the ulcerative colitis med Apriso (mesalamine).

Under the terms of the agreement, Teva will secure a non-exclusive license to market a generic version of the product in the USA, from October 2021.

Bausch picked up the rights to Apriso through its April 2015 acquisition of gastrointestinal specialist Salix Pharmaceuticals. The patent has been subject to litigation from Mylan and others, with the US patent office  ruling against Bausch.