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 EXPANDS SPECIALTY SALES FORCE
RALEIGH, NC, October 25, 2001 - Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) today
announced the expansion of its gastroenterology specialty sales force. The
Company now has a team of 60 professionals - 56 field sales representatives and
4 TeleSales representatives - calling on a targeted audience of
gastroenterologists and other high prescribers of products to treat ulcerative
colitis.
In announcing the expansion, Carolyn Logan, Senior Vice President, Sales and
Marketing, commented, "The Company's inaugural sales force of 30 representatives
has done an exceptional job introducing COLAZAL(TM) to physicians across the
United States. Due to the efforts of our sales force, Salix is becoming
recognized by gastroenterologists as a trusted and valuable partner. Every
member of our sales force is an experienced and proven performer. Our sales
representatives have an average of five years experience in pharmaceutical
sales, with the majority of them having experience in the field of
gastroenterology. Without exception, every member of the team has been
recognized for award-winning performance during his or her career.
"Physicians and patients continue to report an exceptionally high level of
satisfaction with COLAZAL. We are taking action to build on the momentum our
efforts are creating in the marketplace. A sales force of 55 to 60
representatives is needed to provide the most effective coverage of the
gastroenterology market. The expansion of our sales force at this time allows
Salix to better capitalize on the near-term opportunity represented by
COLAZAL. Looking further out, our expanded sales team should also better
position the Company to market additional products as Salix expands its
portfolio."
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(TM), 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 December 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 our limited sales
and marketing experience, management of rapid growth, the uncertainty of
market acceptance of COLAZAL and rifaximin, risks of clinical trials and
regulatory review, and the need to acquire additional products. The reader
is referred to the documents that the Company files from time to time with
the Securities and Exchange Commission.