Management of Salix Pharmaceuticals has picked up some support in its hostile takeover fight with Axcan Pharma of Canada.
Institutional Shareholder Services, a firm that monitors and rates more than 950 firms a year, issued a report earlier this week that supports Salix. Salix has its shareholders meeting on June 19.

“In comparing the two slates, Axcan’s slate is not offering anything with respect to the strategic direction of the company at this point,” ISS said in a report that was summarized and released by Salix in a press release.

Axcan has offered $10.50 a share for Salix. The Salix board has resisted the takeover, saying the offer is too low. Salix (Nasdaq: SLXP) stock closed at $11.89 on Wednesday. The original Axcan offer was $8.75.

Salix: www.salix.com