10:27 AM EST, 01/17/2025 (MT Newswires) -- Bausch Health Companies ( BHC ) , down near 1% at last look, on Friday said the Centers for Medicare and Medicaid Services (CMS) has selected Xifaxan (rifaximin) 550 mg tablets for the second round of negotiation as part of the Inflation Reduction Act.

"We look forward to engaging in open and transparent conversations with CMS, where we will share information on the value that Xifaxan delivers for the healthcare system in addition to sharing recommendations from The American Association for the Study of Liver Diseases (AASLD) and the European Association for the Study of the Liver (EASL) who gave Xifaxan the highest possible recommendation (Grade I, A,1) via their practice guidelines," Bausch said in a statement.

Xifaxan 550 mg tablets are indicated for the reduction in risk of overt hepatic encephalopathy (HE) recurrence in adults and for the treatment of irritable bowel syndrome with diarrhea (IBS-D) in adults.

The company's stock was last seen down $0.13 to $10.88, on the Toronto Stock Exchange.

Price: 10.91, Change: -0.10, Percent Change: -0.91