FDAnews
www.fdanews.com/articles/73676-salix-to-buy-philadelphia-company-for-190-million

SALIX TO BUY PHILADELPHIA COMPANY FOR $190 MILLION

June 27, 2005

Salix Pharmaceuticals announced that it will acquire InKine Pharmaceutical of Philadelphia in a $190 million deal intended to strengthen Salix's position in the gastroenterology market. Under the terms of agreement, InKine stockholders will receive Salix stock valued at $3.55 per share of InKine common stock. Salix believes that the deal will be neutral to earnings per share for 2006. The deal is expected to be completed in the fourth quarter.

Triangle Business Journal (http://www.bizjournals.com/triangle/stories/2005/06/20/daily29.html?from_rss=1)