With new products and increasing sales, how long will it be before Salix Pharmaceuticals (Nasdaq” SLXP) is a billion dollar a year company?

At the rate the Raleigh-based drug firm is growing, perhaps not long.

Salix reported Monday that revenues for 2011 soared 60 percent to $540 million from $337 million in 2010.

Looking ahead to 2012, Chief Financial Officer Adam Derbyshire projected continued growth.

“We believe 2012 total Company product revenue will be approximately $735 million,” he said. “This 2012 revenue guidance represents 36% growth over 2011 revenue. We also believe we will be able to generate approximately $164 million in adjusted net income or $2.45 per share, fully diluted, for the full year ending December 2012.”

Another big year and Salix could be looking at $1 billion as soon as 2013.

Read the full earnings report here.

Get the latest news alerts: Follow WRAL Tech Wire at Twitter.