Bausch Health Companies Inc. BHC
Bausch Health Companies Inc. (NYSE: BHC) is a GI/hepatology drug developer. Its lead program, Xifaxan (marketed Salix portfolio), is in Phase 3 for IBS-D; reduction in risk of overt hepatic encephalopathy recurrence; travelers' diarrhea. Its next catalyst on record is Lumify next generation (Bausch + Lomb): FDA approval anticipated following submitted NDA (Phase 3 met all endpoints) (H1 2027).
Upcoming catalysts
No catalyst is dated to the next 30 days or to an FDA action date.
Next further out: Lumify next generation (Bausch + Lomb) — FDA approval anticipated following submitted NDA (Phase 3 met all endpoints) (H1 2027). 1 catalyst on record beyond the next 30 days; subscribers see each with its filing sentence.
Pipeline
| Program | Indication | Modality | Stage |
|---|---|---|---|
| Xifaxan | IBS-D, OHE recurrence, travelers' diarrhea | small molecule | Approved |
| Cabtreo | Acne | small molecule | Approved |
| Xiidra | Dry eye disease | small molecule | Approved |
| Miebo | Dry eye disease | small molecule | Approved |
| Larsucosterol | Severe alcohol-associated hepatitis | small molecule | Phase 3 |
| Lumify next generation (B+L) | Ocular redness (OTC) | small molecule | Phase 3 |
| Amiselimod (S1P modulator) | Mild to moderate ulcerative colitis | small molecule | Phase 2 |
Recent results and decisions
- Feb 18, 2026started Phase 3 trial of larsucosterol in alcohol-associated hepatitis initiated, first patient randomized in January 2026.
Initiated Phase 3 trial with the first patient randomized in January 2026
Filing - Jan 23, 2026missed Both RED-C Phase 3 trials did not achieve their primary endpoint, though safe and well-tolerated (top-line results first announced January 23, 2026).
While safe and well-tolerated, both clinical trials did not achieve their primary endpoint
Filing
For subscribers
- Cash runway against each catalyst, with the company's own runway statement
- Track record: every Phase 3 readout, FDA decision and guidance slip since 2014
- Expected move for each dated catalyst, from comparable past events
- Phase 2 evidence behind each Phase 3 readout
- Companies on the same target or class
- Full catalyst list with filing sentences, deals, registered trials, Excel export
Other phase 3 GI/hepatology companies
The free Monday brief
Last week's readouts and FDA decisions and the dated catalysts in the week ahead, each with its filing sentence.