Valeant Sub Salix Hired 250 Employees To Bolster Its GI Commitment

Valeant Pharmaceuticals International Inc. subsidiary Salix Pharmaceuticals said Monday it has boosted its sales force by nearly 40%, or 250 employees. The company said it the move was a sign of its commitment to Salix's gastrointestinal treatments. "The significant investments in Salix's dedicated Primary Care Physician (PCP) sales force will help us further reach patients in need of irritable bowel syndrome with diarrhea (IBS-D) treatment, and in doing so, will further accelerate growth for our company," said Valeant Chief Executive Joseph Papa. Valeant's stock, which slipped 0.8% in premarket trade, has lost 4.8% over the past three months, while the SPDR S&P Pharmaceuticals ETF has gained 3.9% and the S&P 500 has climbed 7%.