Salix shares hit 52-week high

Posted by David Ranii on January 13, 2014 

Shares of Salix Pharmaceuticals rose to a 52-week high Monday after the company announced upbeat projections in the wake of its recent acquisition of specialty drug company Santarus.

Raleigh-based Salix, which completed its $2.6 billion purchase of Santarus earlier this month, projected that revenue will hit $1.6 billion this year and adjusted earnings per share will be about $6.09. Analysts were estimating earnings per share of $5.04, according to The Wall Street Journal.

Salix also said the expansion of its sales force is on track and will be nearly complete by late February.

Salix shares closed Monday at $95.49, up $1.87. Shares were trading below $70 in September.

News & Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service