1009356--3/14/2008--SALIX_PHARMACEUTICALS

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Future sales of Colazal will be significantly less than historical sales due to the approval of three generic competitors. We expect to be unprofitable and experience negative cash flow during 2008, and we may need additional capital. Future sales of Xifaxan and our other marketed products might be less than expected. Our ability to increase revenue in the future will depend in part on our success in in-licensing or acquiring additional pharmaceutical products. Regulatory approval of our product candidates is time-consuming, expensive and uncertain, and could result in unexpectedly high expenses and delay our ability to sell our products. Regulatory approval, even if granted, might entail ongoing requirements or restrictions on marketing that could increase our expenses and limit revenue. Failure to comply with manufacturing regulation could harm us financially and could hurt our reputation. Our intellectual property rights might not afford us with meaningful protection. We could be exposed to significant product liability claims that could prevent or interfere with our product commercialization efforts. Intense competition might render our products noncompetitive or obsolete. If third-party payors do not provide coverage or reimburse patients for our products, our ability to derive revenues will suffer. We are dependent on third parties to manufacture our products. Our results of operations might fluctuate from period to period, and a failure to meet the expectations of investors or the financial community at large could result in a decline in our stock price. Our stock price is volatile. Antitakeover provisions could discourage a takeover that stockholders consider to be in their best interests or prevent the removal of our current directors and management.

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1009356--3/14/2008--SALIX_PHARMACEUTICALS_LTD