Bausch Health $BHC stock has been basing for several months but may move on dark pool trades. We think the dark pool trades are mostly buy orders.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
It is unclear why Bausch Health stock is getting dark pool trading interest other than the stock has formed a considerable support level. It may be because of RYALTRIS being approved in Canada.
Bausch Health and Glenmark Announce the approval of RYALTRIS® in Canada
On September 23, 2022, Bausch Health announced that RYALTRIS® (olopatadine hydrochloride and mometasone furoate nasal spray) has been approved by Health Canada for the symptomatic treatment of moderate to severe seasonal allergic rhinitis (SAR) and associated ocular symptoms in adults, adolescents, and children aged 6 years and older.
“This Health Canada approval will allow Bausch Health to soon make RYALTRIS available to Canadians, providing an innovative therapy option for seasonal allergic rhinitis,” Cees Heiman, Senior Vice-President, Europe and Canada, Bausch Health said. “This is part of our ongoing commitment to being a trusted partner in the healthcare of Canadians.”
RYALTRIS is a fixed-dose combination therapy that provides relief for the symptoms of SAR, both nasal and ocular, in one easy-to-use nasal spray. The onset of action for nasal symptom relief occurs within 15 minutes after administration of RYALTRIS.
“We are very pleased that Bausch Health, Canada will soon be able to bring the benefits of the novel drug RYALTRIS to the patients in Canada seeking a new treatment for seasonal allergic rhinitis. RYALTRIS is a result of our consistent efforts to offer high-quality medicines that benefit patients around the world, and now coming to Canada, adding to our global respiratory leadership,” said Brendan O’Grady, Chief Executive Officer – Global Formulations Business, Glenmark Pharmaceuticals Ltd.
Stocks to Watch: Bausch Health
Bausch Health $BHC Stock Technical Analysis
Bausch Health $BHC stock is in a technical downtrend. The stock is testing a downtrend channel breakout as it approaches pivotal resistance at $7.58.