Bausch Health Gains on Debt Reduction, Psoriasis-Lotion Launch

Bausch Health  (BHC - Get Report)  gained on Tuesday after the health-sciences company said it had reduced its debt outstanding and introduced a new psoriasis-treatment lotion. 

The Laval, Quebec, company said it had paid down an additional $100 million of debt using cash from operations, eliminating any additional "mandatory amortization" for its fiscal 2020 first quarter.

The company also rolled out the plaque-psoriasis treatment Duobrii. Calling the drug one of its "significant seven" -- a collection of products that could garner a predicted $1 billion in sales through 2024 -- Bausch Health expects Duobrii to be a strong revenue driver.

Shares of Bausch Health closed 2.6% higher at $24.38 in trading on the New York Stock Exchange.