Salix Pharmaceuticals
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| Subsidiary | |
| Industry | Pharmaceuticals |
| Founded | 1989 |
| Founder | Randy W. Hamilton and Lorin K Johnson, PhD |
| Headquarters | Raleigh, North Carolina, United States |
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Key people
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Carolyn J. Logan (CEO) Adam C. Derbyshire CFO J. Michael Pearson [CEO of Valeant Pharmaceuticals] |
| Parent | Valeant Pharmaceuticals |
| Website | http://www.salix.com/ |
Salix Pharmaceuticals, Inc. is a specialist American pharmaceutical company. As of March 2015 it was the largest independent gastrointestinal specialty pharmaceutical company in the world. The company develops prescription drugs and medical devices that prevent and treat various gastrointestinal disorders. It is listed in the Russell 2000 index. Salix is listed as having the most revenue per employee (at 1,400,846) by Bizjournals.com.
Salix Pharmaceuticals was founded in 1989, in Sunnyvale, CA. From 1992-2001 the company was headquartered in Palo Alto, CA. Since 2001 the company has been headquartered in Raleigh, North Carolina, with Business Development and Intellectual Property functions in Palo Alto, CA. The founding products (balsalazide disodium and rifaximin) were in-licensed from two European pharmaceutical companies for development and commercialization in the USA. Balsalazide disodium was licensed from Biorex Laboratories Ltd., London in 1990, was approved by FDA in 2000 and launched under the tradename, Colazal, by Salix for the treatment of mild to moderate active ulcerative colitis. Before going generic in 2007, Colazal reached peak sales of $120M. Rifaximin, was licensed from Alfa Wassermann SpA of Bologna, Italy in 1996 and approved by FDA for the treatment of travelers diarrhea in 2004 and hepatic encephalopathy in 2010. Rifaximin is sold by Salix as Xifaxan, and generated 2014 sales of $650M. In addition to the two founding products, Salix acquired products from Dr. Falk Pharma, GmBH (Apriso, Uceris Foam), Norgine (Moviprep), Progenics (Relistor),, Willmington Pharma (Metozolv). Salix acquired crofelemer from Napo Pharmaceuticals, completed the Phase III development and gained approval in 2013. Crofelemer, launched as Fulyzaq, is approved for the treatment of secretory diarrhea in HIV patients.
In 2003, the company survived a hostile takeover bid from Canadian pharmaceutical company Axcan Pharma Inc, now named Aptalis. In 2004, Salix acquired InKine Pharmaceutical Company, Inc and its product OsmoPrep for $190M. In 2011 Salix acquired Oceana Therapeutics and its products Deflux and Solesta for $300M. In 2013, Salix acquired Santarus and its products Uceris (oral), Zegerid, Glumetza, Cycloset and Ruconest for $2.6B. Total sales of Salix products in 2014 were $1.1 billion.
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