November 19, 2009 (FinancialWire) — Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) has priced a public offering of 5.5 million shares of its common stock. The offering is scheduled to close on or about November 23.

The company has granted the underwriter a 30-day option to purchase up to an additional 825,000 shares to cover over-allotments, if any.

Salix plans to use the net proceeds from the offering for business development activities and other general corporate purposes.

Raleigh, North Carolina-based Salix Pharmaceuticals develops and markets prescription pharmaceutical products for the treatment of gastrointestinal diseases.

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