Salix profits surge
Published: Tue, Nov. 06, 2007 04:30PM
Modified Tue, Nov. 06, 2007 04:34PM
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closeSalix Pharmaceuticals reported today that third-quarter profit more than doubled from a year ago, as the Morrisville company's sales force 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.
The company 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.
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In the past year, Salix added two new products for its sales force to promote to doctors: colon cleanser Moviprep and a liquid version of the antacid Pepcid.
Total revenue for the three months ended Sept. 30 rose 32 percent to $67.4 million. Slightly less than half of that was sales of Colazal.
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. Its shares fell 5 cents to close at $11.39 today, and are down 16 percent in the past year.
Salix executives will discuss the results at 5 p.m. The conference call can be heard at www.salix.com or by calling (877) 856-1968.
alan.wolf@newobserver.com or (919) 829-4572
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