8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported) February 5, 2002


                           SALIX PHARMACEUTICALS, LTD.
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             (Exact name of registrant as specified in its charter)


                                    Delaware
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                 (State or other jurisdiction of incorporation)


            000-23265                                      94-3267443
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     (Commission file Number)                      (IRS Employer ID Number)


      8540 Colonnade Center Drive, Suite 501, Raleigh, North Carolina 27615
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 (Address of principal executive offices)                           (Zip Code)


 Registrant's telephone number, including area code      (919) 862-1000
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Item 5. Other Events and Regulation FD Disclosure

     On February 5, 2002, Salix Pharmaceuticals announced it will report fourth
quarter and year ended December 31, 2001 financial results before the market
opens on Tuesday, February 12, 2002.

     A copy of this press release is attached as an exhibit.




                                   SIGNATURES
                                   ----------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                  SALIX PHARMACEUTICALS, LTD.


Date: February 5, 2002                By:  /s/  Adam C. Derbyshire
                                           -----------------------
                                           Adam C. Derbyshire
                                           Vice President and Chief Financial
                                           Officer

EX-99.1

                                                                    Exhibit 99.1



FOR IMMEDIATE RELEASE

Contact:    Adam C. Derbyshire                 Mike Freeman
            Vice President and                 Director, Investor Relations and
            Chief Financial Officer            Corporate Communications
            919-862-1000                       919-862-1000


                     SALIX PHARMACEUTICALS ANNOUNCES FY2001
                     FINANCIAL RESULTS CONFERENCE CALL AND
                     WEBCAST

RALEIGH, NC, February 5, 2002 - Salix Pharmaceuticals, Ltd. (Nasdaq:SLXP) today
announced that the Company will report fourth quarter and year ended December
31, 2001 financial results before the market opens on Tuesday, February 5, 2002.

The Company will host a conference call at 10:00 a.m. ET on February 12.
Interested parties may access the conference call by way of webcast or
telephone. The live webcast will be available at http://www.salixpharm.com. To
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access the live webcast, log on to the Company's web site at the address listed
above and go to the investor information section. The webcast will be archived
on the Company's web site through February 19.

The telephone numbers to access the conference call are (800) 967-7140 (U.S. and
Canada) or (719) 457-2629 (international.) A replay of the call will be
available from 1:00 p.m. ET, February 12 through February 19. The telephone
numbers to access the replay of the call are (888) 203-1112 (U.S. and Canada) or
(719) 457-0820 (international.) The access code for the replay is 433741.

Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops
and markets prescription pharmaceutical products for the treatment of
gastrointestinal diseases. Salix's strategy is to in-license proprietary
therapeutic drugs that have an existing database of positive,



late-stage clinical data; complete the development and regulatory submission of
these products; and market them through the Company's gastroenterology specialty
sales force. Salix's lead product is COLAZAL(TM), an anti-inflammatory drug
approved for the treatment of mildly to moderately active ulcerative colitis.
The Company launched the product in the U.S. through its specialty sales force
in January 2001. COLAZAL was well tolerated in clinical studies. In clinical
trials, patients reported the following adverse events most frequently: headache
(8%); abdominal pain (6%); diarrhea (5%); nausea (5%); vomiting (4%);
respiratory infection (4%); and arthralgia (4%). Withdrawal from therapy due to
adverse events was comparable to placebo. Salix's next product candidate is
LUMENAX(TM) (rifaximin), currently in development for the potential treatment of
infections of the lower gastrointestinal tract. The Company submitted an NDA for
rifaximin for the treatment of travelers' diarrhea to the FDA on December 26,
2001. Salix trades on the Nasdaq National Market under the ticker symbol "SLXP".

For more information please contact the Company at 919-862-1000 or visit our web
site at www.salixpharm.com.
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     Please Note: This press release contains forward-looking statements
     regarding future events. These statements are just predictions and are
     subject to risks and uncertainties that could cause the actual events or
     results to differ materially. These risks and uncertainties include the
     uncertainty of market acceptance of COLAZAL and rifaximin, our limited
     sales and marketing experience, risks of clinical trials and regulatory
     review, and the need to acquire new products. The reader is referred to the
     documents that the Company files from time to time with the Securities and
     Exchange Commission.