** Shares of drugmaker Ironwood Pharmaceuticals' IRWD.O shares rise 1.3% to $3.17 premarket

** Co says U.S. Department of Health and Human Services has set the new Medicare price for co's Linzess at $136 for a 30-day supply

** Co's Linzess treats chronic constipation and irritable bowel syndrome with constipation - IRWD

** New price will apply from Jan. 1, 2027 under Inflation Reduction Act, co says

** Co says revised price aligns with its expectations

** Up to last close, stock down ~30% YTD

(Reporting by Sahil Pandey in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))