After Salix acquisition, Valeant receives FDA approval for IBS-D drug

Shares of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) traded up about 1.5 percent after markets closed Wednesday on news that the U.S. Food and Drug Administration approved the drug Xifaxan to treat irritable bowel syndrome with diarrhea (IBS-D) in adult men and women. Quebec's Valeant acquired Xifaxan when it bought Raleigh’s Salix Pharmaceuticals for $11 billion, or $173 per share in cash, in April. Already, Xifaxan was Salix’s biggest seller, but the new indication could drive…
Source: bizjournals.com Health Care:Hospitals headlines - Category: Hospital Management Authors: Source Type: news