** Shares of drugmaker Ardelyx ARDX.O fall 21% to $5.04
** A court dismissed a lawsuit that company filed against the Centers for Medicare and Medicaid Services over their plan to include its kidney disease drug in the Medicare payment bundle system
** The drug, Xphozah, was approved in the US last year to treat high phosphate levels in patients with chronic kidney disease
** Brokerage Jefferies says focus is now back on Congress and if they can pass HR-5074 in about next 30 days
** The bill delays a change to the payment methodology under Medicare for oral drugs that are used to treat end-stage renal disease
** Stock down ~17% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))
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