The drugmaker said the cumulative impact of the restatement will decrease reported net product revenue by about $20.7 million (13.6 million pounds) and net income by about $11.9 million.

Besides the timing of revenue recognition, errors were also found in the timing for recognition of revenue-reducing returns, discounts, and expense items, the company said.

Salix said the restatement will not impact its previously issued 2015, 2016 forecast.

(Reporting by Natalie Grover in Bengaluru; Editing by Savio D'Souza)