Salix Pharmaceuticals Ltd. (NASDAQ: SLXP) has recently reported late-stage results for rifaximin, also known as Xifaxan. The drug was developed as a repeat treatment for patients with irritable bowel syndrome with diarrhea. The company is primarily focused on developing treatment for gastrointestinal diseases.
The company announced study results Tuesday morning that a statistically significant greater proportion of subjects treated with rifaximin responded positively to repeat treatment in the TARGET 3 Phase 3 study.
The stock opened on Tuesday at $138.30, and set a new high for the year.
The company is also awaiting the Food and Drug Administration’s decision on ruconest, a hereditary angioedema drug. Salix acquired the drug when it purchased Santarus for $2.6 billion. Experts say there is a 50-50 chance that it will be approved.
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