Bausch Health Buys Bankrupt Synergy Pharmaceuticals

Bausch Health Buys Bankrupt Synergy Pharmaceuticals

Bausch Health Companies Inc. (NYSE: BHC) is back on the acquisition trail. It’s recent target is Synergy Pharmaceuticals Inc., (NASDAQ: SGYP), a New York City-based biopharma focused on novel gastrointestinal (GI) therapies. Its flagship product, Trulance (plecanatide) is a once-daily tablet approved for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation. Synergy filed for reoganization under Chapter 11 of the U.S. Bankruptcy Code on December 12, 2018 in the Southern District of New York. Bausch was designated the stalking-horse bidder with its offer of approximately $200 million plus certain assumed liabilities. The auction scheduled for... Read More »