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News Breaks
July 1, 2014
07:02 EDTSLXPSalix announces outcome for TARGET 3 study evaluating rifaximin
Salix Pharmaceuticals announced the "successful" outcome of TARGET 3, a Phase 3 randomized, double-blind, placebo-controlled study to evaluate the efficacy and safety of repeat treatment with rifaximin 550 mg TID for 14 days in subjects with irritable bowel syndrome with diarrhea, or IBS-D, who respond to an initial treatment course with rifaximin 550 mg TID for 14 days. In the study a statistically significant greater proportion of rifaximin treated subjects responded to repeat treatment as assessed by the composite primary endpoint of IBS-related abdominal pain and stool consistency during the 4 week treatment-free follow-up period in the Double Blind Repeat Treatment Phase. The company said, "The outcome of TARGET 3 serves to corroborate the results of TARGET 1 and TARGET 2, the confirmatory Phase 3 trials for our supplemental New Drug Application seeking marketing approval for rifaximin as a treatment option for irritable bowel syndrome with diarrhea.”
News For SLXP From The Last 14 Days
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July 23, 2014
10:02 EDTSLXPOn The Fly: Analyst Initiation Summary
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08:10 EDTSLXPDeutsche Bank hosts an analyst Specialty Pharma/Industry conference call
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July 22, 2014
16:08 EDTSLXPSalix initiated with a Hold at Deutsche Bank
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July 17, 2014
05:24 EDTSLXPSalix, Pharming Group announces FDA approval of Ruconest
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July 16, 2014
09:12 EDTSLXPLeerink healthcare analyst holds an analyst/industry conference call
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July 14, 2014
07:07 EDTSLXPFDA says RELISTOR can be approved on data submitted in sNDA
Salix Pharmaceuticals (SLXP) and Progenics Pharmaceuticals (PGNX) announced that the Food and Drug Administration has informed Salix that RELISTOR can be approved on the data submitted in the sNDA. The FDA Office of Drug Evaluation III responded to the company’s formal appeal filed in response to the Complete Response Letter of July 27, 2012 to the supplemental NDA ) for RELISTOR. The Agency’s letter stated that, “Salix’s request that FDA approve the supplemental NDA for RELISTOR subcutaneous injection for the treatment of opioid-induced constipation in patients with chronic non-cancer pain based on the submitted data is granted.” This request for a proposal for a post-marketing observational study is in accordance with recommendations of the June 11-12, 2014 meeting of the Anesthetic and Analgesic Drug Product Advisory Committee. Salix will work with the DGIEP in an effort to provide information to the division that will enable the division to approve RELISTOR for use by patients with chronic non-cancer pain and experiencing OIC.
July 11, 2014
16:46 EDTSLXPStocks end week lower on European, Fed concerns
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09:19 EDTSLXPSalix price target raised to $165 from $130 at Sterne Agee
Sterne Agee increased its price target on Salix (SLXP) to reflect recent data on the company's Xifaxan irritable bowel treatment. The firm views the data as very strong and now sees a 90% chance that the treatment will be approved. Sterne Agee also cited the reduction of the company's taxes following its merger with Cosmo Tech as a reason for its target increase. Sterne keeps a Buy rating on Salix.
July 10, 2014
08:05 EDTSLXPSalix price target raised to $150 from $125 at Brean Capital
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06:56 EDTSLXPSalix price target raised to $192 from $126 at Piper Jaffray
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06:55 EDTSLXPSalix growth outlook, value compelling, says Stifel
Following Salix's Analyst Day, Stifel believes that Salix's shares offer one of the most compelling growth and value opportunities among specialty drug companies it covers. The firm thinks that data for the company's Xifaxan data was strong and is likely to satisfy the FDA. The firm is upbeat on the company's Cosmo deal and thinks the deal is underappreciated. It keeps a Buy rating on Salix.

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