Salix

Carolyn Logan has announced plans to retired as CEO of troubled Salix Pharmaceuticals.

Tom D’Alonzo, current Chairman, will take over as Acting CEO at the end of January, and William Bertrand, Salix’s Senior VP and General Counsel, will work as Acting Chief Operating Officer while the company hunts a permanent leader with the help of a head-hunting firm.

A proposed deal for Allergan to buy the company fell through in November, reportedly​ because of Allergan’s concerns over Salix’s inventory levels.

Logan announced in December measures to “aggressively work down​” distribution partners’ drug pile-ups. The company began to sell only “minimal​” volumes of Xifaxan, Apriso and Uveris to wholesalers, although this meant throwing out previously issued financial predictions for Q4 2014.

“While this effort will impact Salix's revenue in the fourth quarter of 2014 and the full year 2015, we believe this one-time reduction over a defined period of five quarters is the right decision for the business long-term,​" said the then-CEO.