Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Salix Pharmaceuticals Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10.13% to $0.87 in the quarter versus EPS of $0.79 in the year-earlier quarter.
Revenue: Rose 30.05% to $235.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Salix Pharmaceuticals Ltd. reported adjusted EPS income of $0.87 per share. By that measure, the company beat the mean analyst estimate of $0.81. It beat the average revenue estimate of $226.34 million.
Quoting Management: Carolyn Logan, President and Chief Executive Officer, stated, “During the second quarter we made substantial strides in both the commercial and product development areas of our business. XIFAXAN 550 for the treatment of hepatic encephalopathy continues to demonstrate sustained growth and market penetration. Liver disease is a growing burden to the health of our nation, and we are working diligently to ensure that patients suffering from hepatic encephalopathy are readily diagnosed and appropriately treated in order to lessen the damage caused by this debilitating condition. APRISO, our once-a-day treatment for the maintenance of remission of ulcerative colitis, is benefitting from changes in the marketplace. Since the beginning of 2013 APRISO’s share of the branded 5-ASA market for ulcerative colitis has increased over 35% and the product currently holds approximately 12% share. During the quarter our HIV therapeutic specialists and Futura specialty sales force continued our launch efforts for FULYZAQ for the symptomatic relief of non-infectious diarrhea in adult patients with HIV/AIDS on anti-retroviral therapy. Early reports from physicians are indicating that HIV/AIDS patients receiving anti-retroviral therapy who are treated with FULYZAQ are experiencing relief from debilitating diarrhea. Additionally, numerous state AIDS Drug Assistance Programs (ADAPs) have added FULYZAQ to their formularies. We look forward to leveraging our expertise in gastrointestinal medicine in order to effectively deliver this much-needed treatment to patients.”
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