EX-99.1
3
ptx_ex991.htm
PRESS RELEASE ISSUED BY THE COMPANY ON MARCH 24, 2010
ptx_ex991.htm
Exhibit 99.1
Pernix
Announces CEDAX
®
Acquisition
AT THE
COMPANY
Cooper
Collins
President/Chief
Executive Officer
(832)
934-1825
FOR
IMMEDIATE RELEASE
MAGNOLIA,
Texas (March 24, 2010) - Pernix Therapeutics Holdings, Inc. (NYSE Amex: PTX)
today announced the acquisition of the antibiotic CEDAX
®
(ceftibuten) from Shionogi Pharma, Inc.
CEDAX
®
, an
oral third-generation cephalosporin, was originally discovered by Shionogi and
Co., Ltd. and licensed to Schering-Plough. CEDAX
®
received marketing approval from the U.S. Food and Drug Administration in
1995. Indicated for mild to moderate acute bacterial exacerbations of chronic
bronchitis, acute bacterial otitis media, pharyngitis and tonsillitis, the
once-a-day medication was launched by Schering-Plough in 1996.
"We are
excited about the acquisition of CEDAX
®
and
the value it adds to our company", said Cooper Collins, President and Chief
Executive Officer of Pernix. "Annual product revenue for CEDAX
®
peaked over ten years ago while promoted by Schering-Plough (
NYSE: SGP)
. Since
that peak it has not been promoted in first position and the sales have fallen
drastically. Because Pernix has a history of reinvigorating established brands,
we welcome the opportunity to grow the patent protected CEDAX
®
franchise for several years".
The total
purchase price of CEDAX
®
is
$6.1 million. Find more information about CEDAX
®
on
the Pernix website at
www.pernixtx.com
.
Velocity Health Securities, Inc. acted as the exclusive financial advisor to
Pernix on this transaction.
About
Pernix Therapuetics Holdings, Inc.
Pernix
Therapeutics Holdings, Inc. is a specialty pharmaceutical company primarily
focused on serving the needs of the pediatric
marketplace. Commercially-proven branded product families include
CEDAX
®
, Brovex
TM
,
Aldex
®
,
Pediatex
®
,
ReZyst
TM
,
QuinZyme
TM
and
Z-Cof
®
. The
company was originally founded in 1999 and is based in the Houston, TX
metropolitan area. Additional information is available on the
Pernix website at
www.pernixtx.com.
Cautionary
Notice Regarding Forward-Looking Statements
The
Company wishes to caution readers not to place undue reliance on any
forward-looking statements, which speak only as of the date made. No assurances
can be given regarding the future performance of the Company. The
Company wishes to advise readers that factors could affect
the Company's financial performance and could cause the Company's actual results
for future periods to differ materially from any opinions or statements
expressed with respect to future periods in any current statements.
The
Company does not undertake, and specifically declines any obligation, to
publicly release the result of any revisions which may be made to any
forward-looking statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or unanticipated
events.
###

EX - 99 . 1 3 ptx _ ex991 . htm PRESS RELEASE ISSUED BY THE COMPANY ON MARCH 24 , 2010 ptx _ ex991 . htm Exhibit 99 . 1 Pernix Announces CEDAX ® Acquisition AT THE COMPANY Cooper Collins President / Chief Executive Officer ( 832 ) 934 - 1825 FOR IMMEDIATE RELEASE MAGNOLIA , Texas ( March 24 , 2010 ) - Pernix Therapeutics Holdings , Inc . ( NYSE Amex : PTX ) today announced the acquisition of the antibiotic CEDAX ® ( ceftibuten ) from Shionogi Pharma , Inc . CEDAX ® , an oral third - generation cephalosporin , was originally discovered by Shionogi and Co . , Ltd . and licensed to Schering - Plough . CEDAX ® received marketing approval from the U . S . Food and Drug Administration in 1995 . Indicated for mild to moderate acute bacterial exacerbations of chronic bronchitis , acute bacterial otitis media , pharyngitis and tonsillitis , the once - a - day medication was launched by Schering - Plough in 1996 . " We are excited about the acquisition of CEDAX ® and the value it adds to our company " , said Cooper Collins , President and Chief Executive Officer of Pernix . " Annual product revenue for CEDAX ® peaked over ten years ago while promoted by Schering - Plough ( NYSE : SGP ) . Since that peak it has not been promoted in first position and the sales have fallen drastically . Because Pernix has a history of reinvigorating established brands , we welcome the opportunity to grow the patent protected CEDAX ® franchise for several years " . The total purchase price of CEDAX ® is $ 6.1 million . Find more information about CEDAX ® on the Pernix website at www.pernixtx.com . Velocity Health Securities , Inc . acted as the exclusive financial advisor to Pernix on this transaction . About Pernix Therapuetics Holdings , Inc . Pernix Therapeutics Holdings , Inc . is a specialty pharmaceutical company primarily focused on serving the needs of the pediatric marketplace . Commercially - proven branded product families include CEDAX ® , Brovex TM , Aldex ® , Pediatex ® , ReZyst TM , QuinZyme TM and Z - Cof ® . The company was originally founded in 1999 and is based in the Houston , TX metropolitan area . Additional information is available on the Pernix website at www.pernixtx.com . Cautionary Notice Regarding Forward - Looking Statements The Company wishes to caution readers not to place undue reliance on any forward - looking statements , which speak only as of the date made . No assurances can be given regarding the future performance of the Company . The Company wishes to advise readers that factors could affect the Company 's financial performance and could cause the Company 's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements . The Company does not undertake , and specifically declines any obligation , to publicly release the result of any revisions which may be made to any forward - looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events . # # #
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