Pernix Therapeutics (PTX) Enters Licensing Agreement for Gastroenterology Treatment
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Pernix Therapeutics Holdings, Inc. (AMEX: PTX), has entered into a license and supply agreement with a private company for a new FDA-approved prescription product to treat gastroenterology disease. Under the terms of the agreement, Pernix obtained exclusive marketing rights to this gastroenterology product in the United States.
This new product is expected to be available in mid-year of 2012 and will be positioned as a first-line therapy in a niche market of more than $100 million annually in the U.S.
Under the terms of the agreement, Pernix paid an up-front license fee of $2.0 million and expects to pay an additional fee of $2.0 million upon commercial launch of the product. In addition to these license fees, the agreement calls for Pernix to pay royalties and milestone payments based on the sales of the product.
VelocityHealth Securities, Inc. acted as the exclusive financial advisor to Pernix on this transaction.
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This new product is expected to be available in mid-year of 2012 and will be positioned as a first-line therapy in a niche market of more than $100 million annually in the U.S.
Under the terms of the agreement, Pernix paid an up-front license fee of $2.0 million and expects to pay an additional fee of $2.0 million upon commercial launch of the product. In addition to these license fees, the agreement calls for Pernix to pay royalties and milestone payments based on the sales of the product.
VelocityHealth Securities, Inc. acted as the exclusive financial advisor to Pernix on this transaction.
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