Salix drug receives patent for potential new use

Salix Pharmaceuticals Ltd. said Tuesday the drug rifaximin has received patent protection for a potential new use, treating irritable bowel syndrome.

The U.S. Patent and Trademark Office issued a patent that will provide protection until August 2019, the company said in a statement.

The drug company currently markets rifaximin under the brand name Xifaxan for the treatment of traveler's diarrhea. It brought in $64 million in revenue in 2007, said Mike Freeman, Salix's director of investor relations.

Salix has a license to the new patent from Cedars-Sinai Medical Center. The company is studying the use of rifaximin to treat irritable bowel syndrome caused by small intestinal bacterial overgrowth.

Salix announced last month that rifaximin met a midstage clinical trial goal and improved the quality of life for patients with the syndrome.

The pharmaceutical company's stock rose 2 cents to $9.15.