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Salix Pharmaceuticals Prices Common Share Offering

Posted on: Thu, 19 Nov 2009 06:45:00 EST

Symbols: SLXP

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Nov 19, 2009 (FinancialWire via COMTEX) --
SLXP | Quote | Chart | News | PowerRating -- (Comment on this article at http://www.financialwire.net/2009/11/19/salix-pharmaceuticals-prices-common-share-offering/)

November 19, 2009 (FinancialWire) -- Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP | Quote | Chart | News | PowerRating) has priced a public offering of 5.5 million shares of its common stock. The offering is scheduled to close on or about November 23.

The company has granted the underwriter a 30-day option to purchase up to an additional 825,000 shares to cover over-allotments, if any.

Salix plans to use the net proceeds from the offering for business development activities and other general corporate purposes.

Raleigh, North Carolina-based Salix Pharmaceuticals develops and markets prescription pharmaceutical products for the treatment of gastrointestinal diseases.

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Free annual reports, filings and conference call webcasts for companies mentioned in the news are available via Investrend Syndications (http://investrend.ar.wilink.com/?level=279).

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