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Shares of Bausch Health, formerly Valeant, rise 3% on FDA approval of psoriasis treatment

Bausch Health, formerly known as Valeant Pharmaceuticals, said Thursday that it and its dermatology business, Ortho Dermatologics received approval from the Food and Drug Administration for its DUOBRII lotion to treat plaque psoriasis.

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“With today’s approval of DUOBRII, patients suffering from plaque psoriasis now have an innovative topical treatment option that uniquely combines two well-known ingredients, halobetasol propionate and tazarotene, with established safety profiles, into a single lotion featuring dual mechanisms of action,” Bill Humphries, president Ortho Dermatologics, said in a statement.