Salix to fix inventory pile-up by end of 2015
Dec 16 (Reuters) - Salix Pharmaceuticals Ltd said it would cut sales to wholesalers to fix an inventory issue related to three key drugs, and withdrew its forecast for the fourth quarter.
The company said it expects to fix the inventory issue by the end of 2015.
Salix also said the U.S. Food and Drug Administration has delayed a decision on the extended approval of Salix's bowel drug Xifaxan by three months to May 27, 2015, but did not mention the reason.
The company forecast 2015 earnings and revenue below analysts' average expectations.
(Reporting by Vidya L Nathan in Bengaluru,; Editing by Don Sebastian)
