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Specialty drugmaker Salix Pharmaceuticals (SLXP) on Friday canceled its buyout of Cosmo Technologies, becoming the first drugmaker to pull the plug on a tax-inversion deal. Salix stock was up more than 3% in early trading on the stock market today. Salix agreed to buy Cosmo Tech, an Irish subsidiary of Italian drugmaker Cosmo Pharmaceuticals, in July via a stock swap. The company planned to use the deal to relocate to Ireland to take advantage of Scalper1 News
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