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Bausch Health says not considering bankruptcy or insolvency

The headquarters of Bausch Health Solutions, formerly known as Valeant Inc., is seen Wednesday, February 20, 2019 in Laval, Que.

(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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