EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact: Adam C. Derbyshire Mike Freeman
Vice President and CFO Director, Investor Relations and
919-862-1000 Corporate Communications
SALIX PHARMACEUTICALS LAUNCHES COLAZAL(TM)
RALEIGH, NC, January 22, 2001 - Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) today
announced the launch of its first product, COLAZAL(TM) (balsalazide disodium), a
new first-line therapy for the treatment of mildly to moderately active
ulcerative colitis. Product orders totaling approximately $5.5 million were
shipped to wholesalers in mid December 2000 and subsequently distributed to
pharmacies nationwide. The 30-person Salix gastroenterology specialty sales
force has begun meeting with physicians.
"Today's announcement marks not only the launch of COLAZAL, but also the launch
of Salix as an up-and-coming gastroenterology specialty pharmaceutical company,"
commented Robert Ruscher, President and Chief Executive Officer of Salix. "We
are committed to serving the gastroenterology community. The establishment of a
franchise with gastroenterologists across the country is central to the success
of the business. Our sales force is taking the opportunity provided by the
introduction of COLAZAL to introduce Salix to physicians. We want
gastroenterologists to know that we are intent on partnering with them in order
to provide new and improved therapies for their patients and that COLAZAL is
only the first of what we hope will be a number of high-caliber, innovative
pharmaceutical products that we develop to treat gastrointestinal disease."
Commenting on the launch, Carolyn Logan, Senior Vice President, Sales and
Marketing of Salix stated, "We are extremely proud of our sales force and
anticipate a very successful introduction of COLAZAL. Every member of our 30-
person 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. We expect
these individuals will begin to make immediate and significant inroads in the
gastroenterology community as they meet with gastroenterologists to introduce
COLAZAL."
COLAZAL is the first new chemical entity approved in ten years and the first new
therapy approved in seven years by the U.S. Food and Drug Administration (FDA)
for the treatment of mildly to moderately active ulcerative colitis, a chronic
and debilitating inflammatory disease of the gastrointestinal tract. COLAZAL is
approved for a course of therapy of up to 12 weeks. During the course of
clinical investigations, the most commonly reported side effects were headache
and abdominal pain, reported in 8% and 6% respectively, of the clinical patient
population. Withdrawal from therapy due to adverse events was comparable among
patients on COLAZAL and placebo.
Ulcerative colitis is a form of inflammatory bowel disease (IBD) characterized
by inflammation of the lining of the colon. Symptoms of active ulcerative
colitis include rectal bleeding, abdominal pain, increased stool frequency, loss
of appetite, fever and weight loss. There is no known cure for ulcerative
colitis except for removal of the colon. (For additional information about
ulcerative colitis, contact the Crohn's & Colitis Foundation of America at 1-800
932-2423 or visit its web site at http://www.ccfa.org.)
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Salix estimates that there are up to 500,000 patients with ulcerative colitis in
the United States. In 1999, U.S. sales of prescription products indicated to
treat ulcerative colitis totaled approximately $350 million. This market in
terms of prescription dollar sales has been growing at an annual compound rate
exceeding 25% for the last 10 years.
Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops
and markets prescription pharmaceutical products for the treatment of
gastrointestinal diseases. Salix is executing a strategy 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. Salix's follow-on product candidate is rifaximin,
currently in Phase III development for the potential treatment of infections of
the lower gastrointestinal tract. Salix trades on the Nasdaq SmallCap Market
under the ticker symbol "SLXP."
For more information about Salix Pharmaceuticals, Ltd. or COLAZAL, 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 projections and other forward-
looking statements regarding future events. Such 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, competition and manufacturing
risks. The reader is referred to the documents that the Company files from
time to time with the Securities and Exchange Commission.