Company News

Bausch Health agrees to pay $1.21 bln to settle share price lawsuit

Dec 16 (Reuters) - Bausch Health Cos Inc said on Monday it settled a class action lawsuit for $1.21 billion related to a drop in the drugmaker’s shares during 2013-2015.

The company, which was previously known as Valeant Pharmaceuticals, did not admit to any liability and denied all allegations of wrongdoing as part of the settlement for the litigation originally filed in October 2015.

The settlement, which is subject to court approval, does not impact the company’s current 2019 financial forecast, Bausch Health said.

The company’s U.S.-listed shares fell nearly 2% in trading before the bell. (Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Amy Caren Daniel)