(Bloomberg) -- Bausch Health Companies Inc. said it is not “considering a bankruptcy or insolvency proceeding of any kind” and “has not been involved in discussions with its creditors regarding bankruptcy proceedings.”
Bausch Health shares sunk as much as 48% in US trading, triggering two volatility-related halts, following a news article from Reorg citing unnamed sources. The stock pared those losses to about 22% before being halted for pending news ahead of the firm’s statement. Bausch said it wouldn’t comment further.
The shares trimmed their decline to 13% after they resumed trading.
--With assistance from Matt Turner.
(Updates with trading levels in second and third paragraph.)
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