Exhibit 99.1

Salix Pharmaceuticals Reports 2Q2014 Results

2Q14 Total Net Product Revenue Increases 62% Year-over-Year to $382 million

2Q14 EBTIDA Increases 88% Year-over-Year to $155 million

2Q14 XIFAXAN^®550 Prescriptions Increase 23% Year-over-Year and 10% vs. 1Q14

2Q14 APRISO^® Prescriptions Increase 25% Year-over-Year and 9% vs. 1Q14

2Q14 UCERIS^® Prescriptions Increase 106% Year-over-Year and 19% vs. 1Q14

2Q14 RELISTOR^® Prescriptions Increase 8% Year-over-Year and 13% vs. 1Q14

TARGET 3 Supports Efficacy of Repeat Treatment with Rifaximin in IBS-D

Post Formal Appeal and Advisory Committee, FDA Grants Salix’s Request to Approve RELISTOR sNDA Pending Label Completion and Agreement of Post-Marketing Commitments

Salix to Combine with Cosmo Tech to Form Salix Pharmaceuticals plc

RALEIGH, NC, August 7, 2014 – Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) today announced financial and operating results for the second quarter ended June 30, 2014, and provided other business updates.

Key financial highlights include:

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Important disclosures about reconciliations of applicable GAAP reported to non-GAAP adjusted information are included in this press release. See “Use of Non-GAAP Financial Measures”, “Reconciliation of GAAP net income (loss) to non-GAAP income (loss) and the “Reconciliation of GAAP Guidance to non-GAAP Guidance” in this press release.

Carolyn Logan, President and Chief Executive Officer, stated, “Demand for key products remained robust in the second quarter with prescriptions for XIFAXAN^® 550, APRISO^® and UCERIS^® achieving strong year-over-year growth and accelerating trends quarter over quarter in 2014. The impact of this quarter’s strong prescription growth was partially offset by adjustments in the supply chain as wholesalers managed inventory levels following the acquisition of the Santarus products. While we anticipate the difference between prescription growth and wholesaler purchases continuing near term, we expect the situation to normalize during the remainder of the year as prescription growth trends for XIFAXAN^® 550, APRISO^® and UCERIS^® remain very healthy.”

“Over the last few months, we achieved a number of important milestones for our business that enhance our competitive position and expand our market opportunities. Our new digestive disease specialty sales force has made significant progress in a short period of time in increasing our prescriber base, particularly with primary care physicians. Regarding our products, on July 1 we announced the statistically significant outcome of TARGET 3 evaluating the efficacy of repeat treatment with XIFAXAN 550 for Irritable Bowel Syndrome with Diarrhea (IBS-D); on July 10 the Food and Drug Administration (FDA) approved our request, which was submitted under appeal, that RELISTOR Subcutaneous Injection be approved to treat opioid-induced constipation in patients taking opioids for chronic, non-cancer pain on data submitted in our supplemental NDA (sNDA) and on July 16 the FDA approved RUCONEST for the treatment of acute angioedema attacks in adult and adolescent patients with hereditary angioedema (HAE). We view all of these positive events as catalysts for Salix to amplify its growth. In addition, our pending transaction with Cosmo Technologies Limited further strengthens our position as a leading gastrointestinal-focused company, adding highly complementary pipeline products to our portfolio while enhancing our profitability.

“Based on the potential of our currently marketed products combined with our ongoing product development efforts, we are excited about Salix’s future prospects and see significant opportunity to enhance value for our shareholders. There has never been a time in Salix’s history where we have been better positioned for growth or had a more robust pipeline.”

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Operating Results for the Three and Six Months Ended June 30, 2014

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Cash and cash equivalents were $435.3 million as of June 30, 2014.

The following table reconciles actual results for non-GAAP measures to the most closely related GAAP measures. See “Use of Non-GAAP Financial Measures” below.

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Product and Pipeline Updates

XIFAXAN/Rifaximin

RELISTOR

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OTHER

Definitive Merger Agreement with Cosmo Technologies Limited

On July 8, 2014, Salix, Cosmo Pharmaceuticals S.p.A (“Cosmo”) and Irish domiciled Cosmo Technologies Limited entered into an Agreement and Plan of Merger and Reorganization, pursuant to which a subsidiary of Cosmo Technologies Limited will merge with and into Salix, with Salix as the surviving corporation, and Cosmo Technologies Limited will change its name to Salix Pharmaceuticals, plc.

The transaction further enhances Salix’s position as a leader in developing and marketing products in the U.S. to treat gastrointestinal disease and disorders by providing two product candidates, rifamycin MMX and methylene blue MMX, and establishes a corporate structure that enhances Salix’s acquisition strategy and organic growth. The transaction is expected to be modestly accretive to Salix’s earnings per share in 2016 and increasingly accretive thereafter.

Following completion of the merger, Salix shareholders are expected to own slightly less than 80% of the ordinary shares of Salix Pharmaceuticals, plc and Cosmo is expected to own slightly more than 20%. Shareholders of Salix will receive one ordinary share of Salix Pharmaceuticals, plc in exchange for each share of Salix Pharmaceuticals, Ltd common stock they own at closing. The transaction will be taxable to Salix’s shareholders.

The transaction, which has been unanimously approved by the boards of directors of both Salix and Cosmo, is subject to approval by Salix’s stockholders and the satisfaction of certain closing conditions, including antitrust approval in the U.S. The transaction does not require the vote of Cosmo’s shareholders. The transaction is expected to close in the fourth quarter of 2014.

Financial Outlook

Adam Derbyshire, Executive Vice President and Chief Financial Officer, stated, “We continue to see considerable momentum in our business, which we expect to accelerate through the second half of the year. We have achieved several key milestones over the last several months, our new sales infrastructure is beginning to gain traction and prescriptions for our key products are growing. Our third quarter outlook reflects our expectation for some adjustments in the supply chain to continue into the quarter as wholesalers more closely manage inventory levels. However, we expect to see a strong fourth quarter, which historically has been our strongest quarter, as the business continues to realize the combined impact of strong prescription growth and rising productivity of our new digestive disease sales force.”

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Current annualized run rates, based on dollarizing June 2014 prescription data, are approximately $712 million for XIFAXAN^®; $124 million for UCERIS^®; $159 million for APRISO^®; $227 million for GLUMETZA^®, $108 million for ZEGERID^®; $99 million for MOVIPREP^®/OSMOPREP^®; $45 million for RELISTOR^®; and $76 million for Salix’s “other products”.

For the full year 2014, Salix expects:

For the third quarter of 2014, Salix expects:

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The following table reconciles future guidance for non-GAAP measures to the most closely related GAAP measures. See “Use of Non-GAAP Financial Measures” below.

Salix Pharmaceuticals, Ltd.

Reconciliation of GAAP Guidance to Non-GAAP Guidance

(In millions, except per share data)

Conference Call and Webcast Information

Salix will host a conference call at 4:30 p.m. ET on Thursday, August 7, 2014. Interested parties can access the conference call by way of web cast or telephone. The live web cast will be available at www.salix.com. A replay of the web cast will be available at the same location. The telephone numbers to access the live conference call are (800) 289-0462 (U.S. and Canada) or (913) 312-0976 (international). The participant passcode for the call is 546445. The telephone numbers to access the replay of the call are (888) 203-1112 (U.S. and Canada) or (719) 457- 0820 (international). The participant passcode for the call is 1323908.

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About Salix

Salix Pharmaceuticals, Ltd., headquartered in Raleigh, North Carolina, develops and markets prescription pharmaceutical products and medical devices for the prevention and treatment of gastrointestinal diseases. Salix’s strategy is to in-license late-stage or marketed proprietary therapeutic products, complete any required development and regulatory submission of these products, and commercialize them through the Company’s 500-member specialty sales force.

Salix markets XIFAXAN^® (rifaximin) tablets 200 mg and 550 mg, MOVIPREP^® (PEG 3350, sodium sulfate, sodium chloride, potassium chloride, sodium ascorbate and ascorbic acid for oral solution, 100 g/7.5 g/2.691 g/1.015 g/5.9 g/4.7 g), OSMOPREP^® (sodium phosphate monobasic monohydrate, USP, and sodium phosphate dibasic anhydrous, USP) Tablets, APRISO^® (mesalamine) extended-release capsules 0.375 g, UCERIS^® (budesonide) extended release tablets, for oral use, GIAZO^® (balsalazide disodium) tablets, COLAZAL^® (balsalazide disodium) Capsules, GLUMETZA^® (metformin hydrochloride extended-release tablets) 500 mg and 1000 mg, ZEGERID^® (omeprazole/sodium bicarbonate) Powder for Oral Suspension, ZEGERID^® (omeprazole/sodium bicarbonate) Capsules, METOZOLV^® ODT (metoclopramide hydrochloride), RELISTOR^® (methylnaltrexone bromide) Subcutaneous Injection, FULYZAQ^® (crofelemer) delayed-release tablets, SOLESTA^®, DEFLUX^®, PEPCID^® (famotidine) for Oral Suspension, DIURIL^® (chlorothiazide) Oral Suspension, AZASAN^® (azathioprine) Tablets, USP, 75/100 mg, ANUSOL-HC^® 2.5% (Hydrocortisone Cream, USP), ANUSOL-HC^® 25 mg Suppository (Hydrocortisone Acetate), PROCTOCORT^® Cream (Hydrocortisone Cream, USP) 1% and PROCTOCORT^® Suppository (Hydrocortisone Acetate Rectal Suppositories) 30 mg, CYCLOSET^® (bromocriptine mesylate) tablets, FENOGLIDE^® (fenofibrate) tablets. UCERIS (budesonide) rectal foam, RELISTOR^®_, encapsulated bowel preparation and rifaximin for additional indications are under development.

For full prescribing information and important safety information on Salix products, including BOXED WARNINGS for OSMOPREP, AZASAN, GLUMETZA and METOZOLV, please visit www.salix.com where the Company promptly posts press releases, SEC filings and other important information or contact the Company at 919 862-1000.

Salix trades on the NASDAQ Global Select Market under the ticker symbol “SLXP”.

For more information, please visit our website at www.salix.com or contact the Company at (919)-862-1000. Follow us on Twitter (@SalixPharma) and Facebook (www.facebook.com/SalixPharma). Information on our Twitter feed, Facebook page and web site is not incorporated in our SEC filings.

Use of Non-GAAP Financial Measures

EBITDA is earnings before interest, taxes, depreciation, stock-based compensation expense and amortization, the noncash change in acquisition-related contingent consideration, one-time license and sales-based milestone payments, the cost of goods step-up for Santarus products and excluding transaction costs related to the Santarus acquisition and the pending merger with Cosmo Technologies Limited. Non-GAAP net income is comprised of EBITDA, adjusted for cash interest expense and interest

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income and a provision for income taxes based on non-GAAP income before tax. Non-GAAP EPS, or non-GAAP income per share, fully diluted, is non-GAAP net income divided by outstanding shares on a diluted basis. We believe these non-GAAP measures might provide investors additional relevant information, in part for purposes of historical comparison. In addition, we use these non-GAAP measures to analyze our performance in more detail and with better historical comparability; however, you should be aware that non-GAAP measures are not superior to, nor a substitute for, the comparable GAAP measures, and these non-GAAP measures might not be comparable to similarly named measures disclosed by other companies.

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Cautionary Statement Regarding Forward-Looking Statements

As previously announced on July 8, 2014, Salix, Cosmo Pharmaceuticals S.p.A. and Irish domiciled Cosmo Technologies Limited entered into an Agreement and Plan of Merger and Reorganization, pursuant to which a subsidiary of Cosmo Technologies Limited will merge with and into Salix, with Salix as the surviving entity, and Salix will become an indirect, wholly-owned subsidiary of Cosmo Technologies Limited, which will change its name to Salix Pharmaceuticals, plc.

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; changes in tax laws or interpretations thereof; general economic and business conditions and other factors. For additional information about the factors that could cause actual results to differ materially from forward-looking statements, please see Salix’s latest Form 10-Q and Form 10-K filed with the SEC. 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.

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Important Additional Information and Where to Find It

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction and required stockholder approval, Cosmo Pharmaceuticals S.p.A., Cosmo Technologies Limited and Salix will file relevant materials with the SEC, including a proxy statement/prospectus contained in a registration statement on Form S-4, which will be mailed to the stockholders of Salix after the registration statement is declared effective. The registration statement has not yet become effective.

SALIX STOCKHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT/PROSPECTUS, AS IT MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TRANSACTION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES THERETO.

Salix stockholders may obtain a free copy of the proxy statement/prospectus, when it becomes available, and other documents filed by Salix at the SEC’s web site at www.sec.gov. Copies of Salix’s filings with the SEC may be obtained free of charge at the “Investors” section of Salix’s website at www.salix.com or by contacting the Investor Relations Department of Salix at (919) 862-1000.

Participants in the Solicitation

Salix and its directors, executive officers and certain other members of its management and employees may be deemed to be participants in the solicitation of proxies from its stockholders in connection with the proposed transaction. Information regarding the interests of such directors and executive officers was included in Salix’s Proxy Statement for its 2014 Annual Meeting of Stockholders filed with the SEC on April 28, 2014 and information concerning the participants in the solicitation will be included in the proxy statement/prospectus relating to the proposed transaction when it becomes available. Each of these documents is, or will be, available free of charge at the SEC’s website at www.sec.gov and from Salix on its website or by contacting the Investor Relations Department at the telephone number above.

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Salix Pharmaceuticals, Ltd.

Condensed Consolidated Statements of Operations

(In thousands, except per share data)