Valeant CEO: GI franchise remains 'core asset for future growth potential'
As part of the company's announcement Tuesday of a sales force expansion targeting its gastrointestinal products Xifaxan and Relistor, Valeant CEO Joe Papa commented: "Our goal in building a primary care sales force is to maximize opportunities for Xifaxan and Relistor to help our products reach full potential. Xifaxan and Relistor are integral to our gastrointestinal franchise which remains a core asset for future growth potential in the hands of Valeant." Xifaxan and Relistor are developed under Valeant's Salix unit. The company announced in early November that it is "currently in discussions with third parties for various divestitures including but not limited to Salix," with Wells Fargo analyst David Maris commenting at the time that a Salix sale could "significantly" reduce the company's growth profile. PRICE ACTION: Shares of Valeant are now flat in post-market trading after initially trading down 0.5%.