Company news: GSK, Salix
GlaxoSmithKline returned marketing rights on epilepsy drug Horizant to XenoPort effective April 30, 2013. GSK agreed to buy $20 million of common stock in the company as part of the deal, and took a $165 million one-time charge for the transaction.
Salix Pharmaceuticals reported revenues up 27% to $185 million for the third quarter over the same period last year. Nine-month revenues were up 39% on strong sales of Xifaxan, which pulled in $367 million in the first three quarters of the year – up 43% over last year.