SLXP - Salix Pharmaceuticals, Ltd.

Salix Pharmaceuticals, Ltd. (SLXP) was a pharmaceutical company based in the United States that specialized in the development and marketing of drugs to treat gastrointestinal disorders, including inflammatory bowel disease, ulcerative colitis, and Crohn's disease.

Salix was founded in 1989 and went public in 1992. Over the years, the company expanded its product offerings through a combination of in-house development and strategic acquisitions, such as the purchase of Oceana Therapeutics in 2011.

In 2015, Salix was acquired by Valeant Pharmaceuticals International, Inc. in a deal worth $14.5 billion, making it one of the largest pharmaceutical acquisitions in history at the time.

However, the acquisition proved to be a misstep for Valeant, which was later renamed Bausch Health Companies Inc. In 2016, the company was embroiled in a controversy over its business practices, which led to a significant decline in its stock price and numerous lawsuits.

In response, Bausch Health implemented a turnaround plan to refocus its business and reduce its debt. As part of this plan, the company divested several non-core assets, including Salix, which was sold to Irish pharmaceutical company Cosmo Pharmaceuticals in 2020 for $2.7 billion.

Today, Salix operates as a subsidiary of Cosmo Pharmaceuticals and continues to focus on the development and marketing of drugs to treat gastrointestinal disorders. Its product portfolio includes brands such as Xifaxan, Apriso, and Giazo.