Salix Pharmaceuticals, Ltd. SLXP hired an investment banker to explore a possible sale, according to a report Tuesday.
The drugmaker's shares changed hands recently up 6 percent at $127.51.
Citing unnamed sources, Reuters said the company hired investment bank Centerview Partners Holdings LP to evaluate options.
Speculation about a deal was spurred earlier this month when Salix Chief Executive Carolyn J. Logan announced plans to retire on January 30.
Reuters said Tuesday the company is undecided about pursuing a sale immediately or waiting to hire a permanent replacement for Logan.
Salix last month cut its fourth-quarter outlook, citing a glut of inventory held by its wholesalers.
But the company reiterated a peak year sales forecast of $2.1 billion for its Xifaxan 550, which is up for approval for the treatment of irritable bowel syndrome.
The drug is already approved for the treatment of liver disease complications.
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