Valeant CFO says Salix business had 'very strong quarter'
Herendeen said Salix "had a very strong quarter, posting organic growth of 16%. We enjoyed improved net pricing in the Salix business as result of modest price increases across the GI portfolio as well as favorable gross-to-net items compared with the prior year quarter. While the improved net pricing is awesome, I just caution that part of that improvement is less durable than the rest. Also encouraging, Salix volume was up over the prior year quarter by some of 350 basis points, mainly driven by increased demand from XIFAXAN. We made considerable investments in the new Primary Care sales team, and we're starting to see measurable progress growing XIFAXAN prescriptions for IBS-D." In Q2, total prescriptions for XIFAXAN were up 2% while extended units, which means the total prescriptions multiplied by the bills for Rx, were up 4% compared with Q2 last year, he noted. Valeant CFO Paul Herendeen is speaking on the company's Q2 earnings call.