Revenue at Salix starts to rebound

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Salix leaps 51% on clinical results

Salix Pharmaceuticals shares soared Monday after the Raleigh-based company announced positive clinical trial results for one of its treatments for gastrointestinal disease.

Salix reported that its drug rifaximin showed "statistically significant improvement" compared to placebo in the treatment of nonconstipation irritable bowel syndrome in two trials involving 600 patients. The company expects that the drug would be a new treatment in a market worth about $2.2 billion. Salix plans to seek regulatory approval for the drug next year.

Salix shares closed Monday at $20.22, a 51 percent jump. Shares were trading at $6.15 in March.

2010 stock target doubled for Salix

Shares of Salix Pharmaceuticals nearly tripled in 2009, and the surge is continuing in a new year.

The Morrisville drug company's stock jumped Tuesday after analysts with Piper Jaffray raised their price target to $58 per share from $29.

Salix shares rose $1.58 to close at $27.63 Tuesday.

Salix plans to add 64 salespeople

Salix Pharmaceuticals is planning to expand its sales force as the company prepares to win regulatory approval for new medicines that treat gastrointestinal ailments.

The Morrisville company already has 96 salespeople but wants to hire and train 64 more this year.

Salix is adding sales staff as it awaits Food and Drug Administration approval for a drug to treat a type of stomach disease called gastroparesis.

Salix can sell its new drug

Salix Pharmaceuticals has received regulatory approval for a new drug for stomach ailments that it projects will reach annual sales of $50 million.

The Morrisville company said Tuesday that the U.S. Food and Drug Administration has granted marketing approval for Metozolv ODT to treat diabetic gastroparesis, a stomach ailment that afflicts about 5 million diabetics. Metozolv also can treat gastroesophageal reflux disease, or GERD, a more serious form of acid reflux.

Metozolv is the first fast-dissolving version of the drug metoclopramide -- it melts on the tongue -- providing a better option for patients who have trouble swallowing or don't have water available.

Salix loses $14 million, but there's good news

Salix Pharmaceuticals reported a first-quarter loss, but sales of its medicines to treat gastrointestinal ailments rose 30 percent.

The Morrisville company's products treat ulcerative colitis, travelers' diarrhea and other diseases.

The company is one of a handful of small drug makers in the Triangle with products approved for patients. Salix also has several other drugs awaiting regulatory approval.