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BRIEF: Revenue at Salix starts to rebound

Posted on: Tue, 10 Nov 2009 06:33:00 EST

Symbols: SLXP

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Nov 10, 2009 (The News and Observer - McClatchy-Tribune Information Services via COMTEX) --
SLXP | Quote | Chart | News | PowerRating -- Salix Pharmaceuticals reported stronger third-quarter sales of its drugs to treat various gastrointestinal diseases.

The Morrisville company announced Monday that revenue rose to $65.7 million, up 53 percent from the same period last year. Salix reported a net loss of $7.3 million, or 15cents a share. But the results beat the average expectation of Wall Street analysts.

Salix shares have more than tripled since March as investors grew optimistic aboutSalix. The stock closed at $21.14 Monday, up 20 cents.

Salix, one of the Triangle's most successful drug companies, has several products on the market and promising treatments in development. Salix recently hired 64 salespeople to help market its medicines to physicians.

"The third quarter of 2009 was one of the most exciting and rewarding periods in the company's history to date," CEO Carolyn Logan said.

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