MILWAUKEE, Nov. 7, 2014 (GLOBE NEWSWIRE) -- We are investigating possible securities fraud claims against Salix Pharmaceuticals, Ltd. resulting from inaccurate statements SLXP made regarding its business practices, financial statements and prospects.
Click here to learn more about the investigation: http://www.ademilaw.com/case/salix-pharmaceuticals-ltd or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Our investigation focuses on the extent to which SLXP issued false and misleading statements regarding its business practices, financial statements, past and future business performance and prospects. Specifically, SLXP's CEO Carolyn Logan said the board of directors' audit committee is probing SLXP's statements regarding its inventory levels and is starting to negotiate distribution service agreements with its wholesalers, aiming to "improve our visibility into wholesaler inventory levels and our inventory management and planning." For instance, SLXP disclosed that wholesalers have a nine-month supply of the diarrhea drug Xifaxan in their warehouses when they should only have about three months of inventory. SLXP could not explain how inventory levels got so out of control. Xifaxan generates almost half of SLXP's total revenue, so reported sales in future quarters will be negatively affected as inventory already in the distribution channel is worked off. This disclosure followed SLXP's announcement that CFO Adam Derbyshire had resigned.
If you wish to obtain additional information or have information about SLXP, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/salix-pharmaceuticals-ltd.
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