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NEW YORK ( TheStreet) -- Salix Pharmaceuticals (Nasdaq: SLXP) hit a new 52-week high Tuesday as it is currently trading at $54.53, above its previous 52-week high of $53.99 with 24,681 shares traded as of 9:40 a.m. ET. Average volume has been 756,600 shares over the past 30 days. Salix has a market cap of $3.03 billion and is part of the health care sector and drugs industry. Shares are up 9.1% year to date as of the close of trading on Monday. Salix Pharmaceuticals, Ltd. acquires, develops, and markets prescription drugs and medical devices used in the treatment of various gastrointestinal diseases in the United States. The company has a P/E ratio of 33.5, above the average drugs industry P/E ratio of 33.2 and above the S&P 500 P/E ratio of 17.7.