Salix Pharmaceuticals
 | This article needs additional citations for verification. (February 2019) |
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| Company type | Subsidiary |
|---|---|
| Industry | Pharmaceuticals |
| Founded | 1989 |
| Founders | Randy W. Hamilton Lorin K. Johnson |
| Headquarters | |
Key people | Mark McKenna (SVP) Carolyn J. Logan (fmr. CEO) Adam C. Derbyshire (fmr.CFO) |
| Parent | Bausch Health |
| Website | salix |
Salix Pharmaceuticals, Inc. is an American specialty pharmaceutical company based in Bridgewater, New Jersey.
It is the largest gastroenterology-focused pharmaceutical company in the world. Salix develops prescription drugs and medical devices that prevent and treat various gastrointestinal disorders.
History
[edit]Salix was founded in 1989[1] in Sunnyvale, California by Randy W. Hamilton and Lorin K. Johnson.
From 1992 to 2001, the company was headquartered in Palo Alto before relocating to its current headquartered in Raleigh.
In 2003, the company survived a hostile takeover bid from Canadian pharmaceutical company Axcan Pharma Inc, now named Aptalis.[2] 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.
In 2010, Salix Pharmaceuticals signed a strategic global agreement with Photocure for Lumacan. Lumacan is a photodynamic colorectal diagnostic intended to significantly improve the detection of precancerous and cancerous lesions in the colon through fluorescence diagnosis. In addition to the development of Lumacan for colorectal cancer, Salix holds the exclusive right to explore and develop products for additional indications involving the diagnosis of gastrointestinal dysplasia and cancer.[3]
In February 2015, Valeant Pharmaceuticals announced it would acquire Salix for $14.5 billion, creating the world leader in gastrointestinal drugs. The deal was completed on April 1, 2015.[4] On the final day of trading, Salix shares traded for $172.81, giving it a market capitalization of $10.9 billion.
References
[edit]- ^ "Salix Pharmaceuticals - Company, United States - SWFI". www.swfinstitute.org. Retrieved 2020-08-19.
- ^ Salix Pharmaceuticals Board Unanimously Recommends Rejection of Axcan's Revised Offer. Business Wire, May 27, 2003.
- ^ "Agreement with Salix Pharmaceuticals for Lumacan™". photocure.com. Retrieved 6 February 2019.
- ^ "Valeant to Acquire Salix for $14.5B". Genengnews.com. 23 February 2015. Retrieved 6 February 2019.
External links
[edit]- Pharmaceutical companies established in 1989
- 1989 establishments in California
- Companies formerly listed on the Nasdaq
- Pharmaceutical companies of the United States
- 2015 mergers and acquisitions
- Pharmaceutical companies based in New Jersey
- Companies based in Somerset County, New Jersey
- Bridgewater Township, New Jersey