Exhibit 99.1
  Salix Contact:
Adam C. Derbyshire
G. Michael FreemanExecutive Vice President
Associate Vice President, Investor Relationsand Chief Financial Officer
and Corporate Communications919-862-1000
919-862-1000 
 Progenics Contact:
Melissa DownsCorporate Development914-789-2800
  ®
  
  
 Treatment of O
 
 
 RALEIGH, NC and TARRYTOWN, NY, July 14, 2014 - Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) and Progenics Pharmaceuticals (NASDAQ:PGNX) today announced that the Food and Drug Administration (FDA or Agency) has informed Salix that RELISTOR ® (methylnaltrexone bromide) Subcutaneous Injection, 20 mg/ml, for the treatment of
 
 
  
    .
 
   For more information about RELISTOR, please visit www.RELISTOR.com
  ®
  
     RELISTOR full Prescribing Information for the U.S. is available at www.RELISTOR.com .
 
 
  
  
 ® ® ® ® UCERIS ® (budesonide) extended release tablets, for oral use, ® ® ® (metformin hydrochloride extended-release tablets) 500 mg and 1000 mg, ® ® ® ® ® ® ® ® ® ® ® ® ® ® , ®  ® TM
 
 
 www.salix.com
 
 
  
 www.salix.com www.facebook.com/SalixPharma
 
 
 TM ® www.progenics.com
 Please Note: The statements provided herein that are not historical facts are or might constitute projections and other forward-looking statements regarding future events.  Although we believe the expectations reflected in such forward-looking statements are based on reasonable assumptions, our expectations might not be attained.  Forward-looking statements are just predictions and are subject to known and unknown risks and uncertainties that could cause actual events or results to differ materially from expected results.  Factors that could cause actual events or results to differ materially from those described herein include, among others: uncertainties as to the ability to successfully complete the proposed transaction in accordance with its terms and in accordance with the expected schedule; the possibility that competing offers will be made; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived, including that a governmental entity may prohibit or refuse to grant any approval required for the consummation of the proposed transaction; the unpredictability of the duration and results of regulatory review of New Drug Applications, Biologics License Agreements, and Investigational NDAs; generic and other competition in an increasingly global industry; litigation and the possible impairment of, or inability to obtain, intellectual property rights and the costs of obtaining such rights from third parties in an increasingly global industry; the cost, timing and results of clinical trials and other development activities involving pharmaceutical products; post-marketing approval regulation, including the ongoing Department of Justice investigation of Salix's marketing practices; market acceptance for approved products; revenue recognition and other critical accounting policies; the need to acquire new products; general economic and business conditions; and other factors.  Readers are cautioned not to place undue reliance on the forward-looking statements included herein, which speak only as of the date hereof.  Salix does not undertake to update any of these statements in light of new information or future events, except as required by law.  The reader is referred to the documents that Salix files from time to time with the SEC.