Salix Adjusts Guidance; License Agreement Will Expand GI Treatments

Salix Pharmaceuticals (NASDAQ:SLXP) is moving ahead of the bell after it announced 2Q earnings and a major licensing deal yesterday. Salix entered into an agreement with Alfa Wasserman (privately owned) to purchase an extended release formulation of its lead drug Xifaxan. For $10M up front, Salix will own marketing rights to the drug, which they expect to be approved for treating Crohn’s disease and other intestinal disorders. If approved and marketed, Alfa Wasserman is also entitled to sustained milestone payments. (more…)