Bausch Health stock plum­mets even as com­pa­ny looks to start 'new chap­ter'

Bausch Health’s sep­a­ra­tion from its cash-rich eye care unit is of­fi­cial­ly un­der­way, as the spin­off clos­es its pub­lic of­fer­ing and the com­pa­ny taps a team to guide it in­to a “new chap­ter.” Too bad in­vestors aren’t on the same page.

Bausch Health Com­pa­nies $BHC stock plunged more than 25% on Tues­day, pric­ing in at around $9.67 a share.

The drop fol­lows a rough few years for Bausch, marked by mount­ing le­gal trou­ble and a ma­jor re­brand. Just last year, Bausch promised more than a bil­lion dol­lars to set­tle class claims in a se­cu­ri­ties fraud case, and crit­ics have ar­gued the re­cent spin­out is mere­ly an at­tempt to pro­tect the com­pa­ny’s as­sets from on­go­ing lit­i­ga­tion.

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