Raleigh’s largest home-grown pharmaceutical company, Salix Pharmaceuticals, will merge with a subsidiary of Italian company Cosmo Pharmaceuticals.
After the merger is complete, Salix (Nasdaq: SLXP) shareholders will own 80 percent of the new company, called Salix Pharmaceuticals, plc, with Cosmo shareholders owning 20 percent. Cosmo shares are traded on the SIX Swiss Exchange under the symbol “COPN”. Officially, Salix will become a wholly owned subsidiary of Irish-domiciled Cosmo Technologies…