Salix's profit, drug sales rise

Earnings more than double, but shares are down for year

Salix Pharmaceuticals reported Tuesday that its third-quarter profit more than doubled from a year ago, as the Morrisville company's sales department sold more of its treatments for gastrointestinal disorders.

The Triangle is home to dozens of small companies developing new medicines, but Salix is one of the few with real products on the market and actual profit.

Salix Pharmaceuticals sells products such as Xifaxan, a treatment for travelers' diarrhea; Colazal, a treatment for ulcerative colitis; and Osmoprep, a colon cleanser that helps prepare patients for colonoscopies.

In the past year, Salix has added two products for its salespeople to promote to doctors: colon cleanser Moviprep and a liquid version of the antacid Pepcid.

Total revenue for the three months that ended Sept. 30 rose 32 percent to $67.4 million. Slightly less than half of that was sales of Colazal.

The company's net income jumped to $14.2 million, up from $7 million a year earlier.

Salix released its financial results after the close of regular stock market trading Tuesday.

The drug company's shares fell 5 cents to close at $11.39. Its stock is down 16 percent in the past year.