Bausch Health's Xifaxan Successor Program Fails, Stock Plunges 10%

Bausch Health's Phase 3 program for rifaximin to delay hepatic encephalopathy has failed. This means that the company's blockbuster Xifaxan, a rifaximin-based drug, will not have a successor. Bausch Health's stock has declined nearly 10% in intraday trading. The failure of the program is a significant blow to the company's pipeline and future growth prospects.