Salix Pharmaceuticals announced after the markets closed today that revenue jumped 23 percent in the third quarter while sales of its best-selling drug Xifaxan increased 53 percent.
The Morrisville drug company said revenue for the three month period ending Sept. 30 was $80.6 million, up from $65.7 million a year ago. That beat Wall Street expectations.
Xifaxan revenues were $65.2 million versus $42.7 million a year ago.
In March, the Food and Drug Administration said Salix could market Xifaxan as a treatment for serious liver disease, or hepatic encephalopathy.
The company projects that approval will eventually boost Xifaxan sales by as much as $1 billion a year.
Carolyn Logan, Salix's president and CEO, said in a release that Xifaxan continues to gain momentum in the marketplace.
"The service is being well received by physicians and is enhancing patients access to this important HE therapy," she said.