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Posts tagged “Salix”

Updated April 3

Premium Lock Nearly 1/3 of Salix work force cut; new owner plans 'limited presence' in Raleigh

Salix        A total of 258 employees of Salix Pharmaceuticals in North Raleigh are to be laid off following the company's acquisition earlier this week by Canada-based Valeant Pharmaceuticals in a deal valued at more than $11 billion. The new owner plans to maintain a "limited presence" in Raleigh. The cuts - 289 in all - represent nearly a third of the Salix work force.

Updated April 1

Premium Lock With a few short words, Salix Pharmaceuticals as a company disappears

The saga of Raleigh-born Salix Pharmaceuticals came to a close - at least as a stand-alone company - Wednesday with the formal closing of the $11 billion acquisition that makes Salix part of Canada-based Valeant Pharmaceuticals.

Valeant Valeant

March 20

Premium Lock AT&T's $40M error; GSK job cuts; Amazon 1-hour delivery; Salix $78M parachutes; GSK inhaler; China freedom group attacked

Bulldog In today's Bulldog wrapup of technology and life science news: AT&T takes a $40M hit in a lawsuit; GSK is cutting 150 jobs in Pa.; Amazon expands 1-hour delivery service; Salix handing out $78M in golden parachutes; GSK wins OK for inhaler; and a China web freedom group is under attack.

March 16

Premium Lock Valeant ups bid for Salix Pharmaceuticals to $11.1B

Salix        The price for Raleigh-based Salix Pharmaceuticals keeps going up. On Monday, Valeant upped its offer to Salix after Endo Pharmaceutical entered the bidding last week.

Updated February 24

Premium Lock Slideshow: Why Valeant is buying Salix in a $14B deal

In a presentation to investors, Valeant executives on Monday spelled out in great deal why the Canadian firm decided to buy Raleigh-based Salix in a deal worth $14 billion. We've got a slide show about the Valeant presentation.

Why Gastrointestinal Why Gastrointestinal

February 23

Premium Lock Salix stock dips, Valeant surges on deal news; law suits next?

Salix        Shares in Valeant Pharmaceuticals jumped 14 percent but Salix Pharmaceuticals fell slightly on Monday once stock markets opened and reacted to Sunday's announcement that Valeant is buying Salix in a deal valued at $14 billion. Three law firms are looking into the deal.

Updated February 23

Premium Lock Salix could pay $400M if deal with Valeant falls through

Merger Raleigh-based Salix Pharmaceuticals could have to pay as much as $400 million if its $14 billion deal to be acquired by Valeant falls through. Salix says it will not seek another offer but if another comes along and Salix accepts it, Valeant would be paid a termination fee of $356M plus related costs up to $50M.

Updated February 23

Premium Lock Raleigh-based Salix Pharmaceutical being acquired in $14B deal

A slide from a Salix presentation  Raleigh-based Salix Pharmaceuticals has agreed to be acquired by Canadian drugmaker Valeant Pharmaceuticals in a deal valued at some $14 billion. The boards of both companies have already agreed to the terms, which were announced Sunday.

Updated February 23

Premium Lock Sale won't end turmoil at Salix - look for more in short term

Salix        Sunday's announced acquisition of Salix by Valeant will not quite the turmoil that has engulfed one of the Triangle's best pharmaceutical success stories. In fact, in the short term, life is likely to get worse in a merger that is likely to lead to job cuts as part of $500 million in cost savings. Plus, the Triangle is losing another corporate headquarters.

February 16

Premium Lock AT&T launches GigaPower in KC; Valeant eyes Salix; Cary's new startup hub; Xiamoi No. 1, Lenovo No. 5 in China

Bulldog In today's Bulldog wrapup of technology and life science news: AT&T launches GigaPower in Kansas City, taking on Google; Valeant reportedly eyes Raleigh-based Salix; a new startup hub in Cary; and Xiaomi tops smartphone sales in China while Lenovo is fifth on its home turf, says a new report.

January 6

Premium Lock Salix CEO is retiring in wake of inventory woes, stock crash

A slide from a Salix presentation  Carolyn Logan, chief executive officer of Salix Pharmaceuticals, is retiring as of Jan. 30 in the wake of an inventory snafu that cost the Raleigh-based company some $3 billion in stock value in just a few hours and likely scuttled a merger worth as much as $10 billion.

Updated December 17, 2014

Premium Lock Will Red Hat deliver earnings surprise? New IBM deal may be boost

Red Hat         Red Hat is set to announce its latest quarterly financials on Thursday, and Wall Street won't be surprised if the Hatters deliver better-than-expected results. Or will the Hatters disappoint? A new IBM deal may give Red Hat a boost going forward.

December 17, 2014

Premium Lock Salix stock rebounds on news of inventory reduction plan

A slide from a Salix presentation  Salix Pharmaceuticals shares rebounded 7 percent Tuesday on news that the Raleigh-based company will launch a plan to reduce drug inventory by the end of 2015. Salix was rocked in November when it acknowledged big inventory problems.

Updated November 13, 2014

Premium Lock Comcast pushes Time Warner merger; nContact lands $20M; Salix CFO's severance deal; YouTube adds music subscriptions

Bulldog In today's Bulldog wrapup of technology and life science news: Comcast pushing "full steam" for Time Warner merger; RTP firm raises $20 million; Salix CFO gets severance package; and YouTube launches a subscription music service.

November 7, 2014

Premium Lock Analysts grill Salix exes after CFO, inventory news drive down shares 40%

The chief financial officer at Salix is out; the Raleigh-based drug company reports inventory of a leading product is months higher than previously reported; and Wall Street dumps Salix shares with the price plummeting 40 percent. So when CEO Carolyn Logan opened an earnings conference call with analyst, the knives were out.

A slide from a Salix presentation  A slide from a Salix presentation

November 4, 2014

Premium Lock Russia removes Apple statue; Micell finds stent partner; $89B in ecommerce for Christmas; new Salix drug; SciQuet's product update

Bulldog In today's Bulldog wrapup of technology and life science news: Russia removes an Apple statue after Apple CEO comes 'out;' Micell finds partner for stents in Europe; $89 billion forecast for ecommerce sales; Salix launches new drug; and SciQuest updates its product suite.

Updated October 8, 2014

Premium Lock Lenovo class-action suit; new GSK probe; AT&T data breach; Salix drug wins OK; Facebook's anonymous app; Lenovo-NEC deal

Bulldog In today's Bulldog blog wrapping up the latest technology and life science news: Lenovo settles a class-action suit over Wi-Fi; GSK faces another bribery investigation; AT&T data breach; FDA OKs Salix colitis treatment; Facebook is developing an app for anonymous posts; and Lenovo extends its partnership with NEC.

Updated October 3, 2014

Premium Lock Salix calls off $2.7B merger, cites US tax policy; stock surges

Salix        Salix Pharmaceuticals says a tougher U.S. tax policy against merger deals designed to lower taxes by moving companies overseas is why a $2.7 billion merger with Italy's Cosmo Pharmaceuticals is being called off. The deal will cost Salix a $25 million termination fee.

Updated September 24, 2014

Premium Lock $10B deal? Sale talk drives Salix shares to record high

Salix        Raleigh-based Salix Pharmaceuticals is talking a possible deal with Allergan, according to multiple media reports. A deal would be worth $10 billion or more as speculation drives up the price of Salix shares to a record high.

September 23, 2014

Premium Lock Cisco execs sell $19M in shares; Nortel trial nears end; GSK launches 2 startups; Salix $100M settlement; AT&T Amazon bundle

Bulldog In today's wrapup of tech and life science news: Several Cisco executives sell $19 million in shares; Nortel's huge bankruptcy trial nears end; GSK launches two startups; Salix reaches a $100M settlement; and AT&T's new entertainment bundle includes Amazon Prime.

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