Pernix Therapeutics (PTX) to Acquire Zogenix's (ZGNX) Zohydro ER Business

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Pernix to Acquire Zohydro® ER Franchise from Zogenix, Inc.

March 10, 2015 4:05 PM EDT

Acquisition to Double Pernixs Commercial Footprint, Creating a Platform for Rapid Expansion

Pernix to Host Conference Call Wednesday, March 11th at 9:00am EDT

MORRISTOWN, N.J.--(BUSINESS WIRE)-- Pernix Ireland Limited, a wholly owned subsidiary of Pernix Therapeutics Holdings, Inc. (NASDAQ: PTX), a specialty pharmaceutical company, announced today that it has signed a... More

Zogenix Announces Agreement of Sale of Zohydro(R) ER Business to Pernix for $100 Million at Closing Plus Potential Milestones of $283.5 Million

March 10, 2015 4:05 PM EDT

Enables planned implementation of new strategic focus to developing a late-stage, high-value CNS pipeline

Conference Call and Webcast on Tuesday, March 10, at 4:30 p.m. ET

Agreement Terms:

$100 million in upfront consideration comprised of $30 million in cash, $20 million in Pernix common stock and a $50 million short term promissory note $12.5 million milestone payment for approval of ZX007 abuse-deterrent extended-release hydrocodone tablet (the Altus formulation) Up to $271 million in potential sales milestones with first being $7.5 million upon aggregate net sales reaching $75 million in a single calendar... More