Exhibit 99.2
FOR IMMEDIATE RELEASE
Contact: Adam C. Derbyshire
Mike Freeman
Vice President and Director, Investor Relations and
Chief Financial Officer Corporate Communications
919 862-1000 919 862-1000
SALIX PHARMACEUTICALS ANNOUNCES NEW VICE PRESIDENT, OPERATIONS
RALEIGH, NC, May 15, 2001 - Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) today
announced that it has named Joseph Tyler as Vice President, Operations.
Mr. Tyler has over 25 years of experience in pharmaceutical manufacturing,
process development and product development. Prior to joining Salix, he was Vice
President, Manufacturing of GelTex Pharmaceuticals. Before joining GelTex, Mr.
Tyler headed European operations for Stryker Biotech and also held various
positions with Abbott Biotech, Lederle Laboratories and Schering Corporation.
Mr. Tyler received a B.S. in Chemical Engineering from Carnegie-Mellon
University and a M.S. in Biochemical Engineering from Cornell University.
"We are very pleased to have an industry veteran of Joe's stature join Salix to
head the operations side of our business," said Robert Ruscher, President and
Chief Executive Officer of Salix. "Joe's experience with contract manufacturing
in both the United States and Europe equip him with the knowledge, skills and
experience to oversee and direct the network of third parties involved in the
production of the Company's products. We look forward to Joe's leadership in
this crucial area as the Company grows and the requirements for COLAZAL(TM) and
other products increase."
Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops
and markets prescription pharmaceutical products for the treatment of
gastrointestinal diseases. Salix's strategy is to in-license proprietary
therapeutic drugs which have an existing database of positive, late-stage
clinical data; complete the development and regulatory submission of these
products; and market them through the Company's gastroenterology specialty sales
force. Salix's lead product is COLAZAL, an anti-inflammatory drug approved for
the treatment of mildly to moderately active ulcerative colitis. The Company
launched the product in the U.S. through its specialty sales force in January
2001. Salix's follow-on product candidate is rifaximin, currently in development
for the potential treatment of infections of the lower gastrointestinal tract.
The Company currently intends to submit an NDA for rifaximin for the treatment
of infectious diarrhea to the U.S. FDA in late 2001. Salix trades on the Nasdaq
National Market under the ticker symbol "SLXP."
For more information please contact the Company at 919-862-1000 or visit our web
site at www.salixpharm.com.
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Please Note: This press release contains forward-looking statements
regarding future events. These statements are just predictions and are
subject to risks and uncertainties that could cause the actual events or
results to differ materially. These risks and uncertainties include the
uncertainty of market acceptance of COLAZAL and rifaximin, our limited
sales and marketing experience, risks of clinical trials and regulatory
review, dependence on third-party manufacturers, and the need to acquire
new products. The reader is referred to the documents that the Company
files from time to time with the Securities and Exchange Commission.