Salix falls into loss on generic competition
The USA's Salix fell into loss in 2008, on plummeting sales and no collaboration revenue due to generic competition for inflammatory bowel disease drug Colazal (balsalazide disodium).
The firm's net loss was $47.0 million, or $0.98 loss per share, versus a net income of $8.2 million, or $0.17 per share. The company had $120.2 million in cash and cash equivalents as of December 31, 2008, up 8%.
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