Cohen's SAC Capital Accumulates Nearly 5M Shares of Salix Pharmaceuticals (SLXP)
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In a 13G filing on Salix Pharmaceuticals Ltd. (Nasdaq: SLXP), Steven Cohen's SAC Capital hedge fund disclosed a 9.9%, or 4,778,380 share, stake in the company. The firm held just 107,300 shares of SLXP at the quarter ended June 30, 2009. A 13G indicates a 'passive investment' above 5%.
On Sept 14, Salix announced the successful outcome of two Phase 3, randomized, double-blind, placebo-controlled, multicenter trials, TARGET 1 and TARGET 2, designed to evaluate the efficacy and safety of rifaximin 550 mg TID in the treatment of patients with non-constipation irritable bowel syndrome (non-C IBS).
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