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Salix Pharma scuttles Cosmo Technologies merger
2014-10-03 17:20:28| Biotech - Topix.net
Salix Pharmaceuticals is scrapping its merger with the subsidiary of an Italian drugmaker after the U.S. created new limitations on the tax benefits of incorporating overseas. Shares of the Raleigh, North Carolina, drugmaker jumped almost 6 percent Friday morning before markets opened and after Salix said that a transformed political environment has created more uncertainty about the benefits they had expected to achieve from the deal, first announced in July.
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Category:Biotechnology and Pharmaceuticals