Investors pushed Salix Pharmaceuticals ever higher Wednesday in the arise of the great headlines delivered Tuesday by a Food and Drug Administration advisory panel.
Salix shares sealed at $29.21, up twenty percent, the day after an FDA row endorsed that the association be authorised to surveillance the best-selling drug, Xifaxan, as a diagnosis for a critical liver disease, hepatic encephalopathy. The sovereign agency, that typically follows the recommendation of the panel, is approaching to action on Salixs focus by March24.
Salix, and a little analysts, plan that a go-ahead from the FDA could beget rise annual Xifaxan sales of $1 billion. Salix additionally intends to request for regulatory capitulation to foster Xifaxan as a diagnosis for irked bowel syndrome. That could meant one more annual rise sales of $2.5 billion.
Analyst James Molloy of Caris & Co. called Salix an tasteful merger target.
"There are a lot of big curative companies out their seeking for drug and seeking for expertise," Molloy said. "Here is a association that is sitting on a billion-dollar drug this year and a billion-dollar drug subsequent year. There arent most of those out there."
Adam Derbyshire, Salixs CFO, pronounced the companys diversion plan doesnt embody being acquired.
"We are publicly held. That is regularly a possibility," he said. "But we are not for sale, and we are not bathing ourselves for sale."
Staff bard David Ranii
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