Pernix Therapeutics Holdings, Inc.
) recently announced the integration of Hawthorn Pharmaceutical's
sales forces with its own. Moreover, the company restructured the
combined sales force.
Following the restructuring, the strength of the sales force
has been reduced by 62 heads to 125. The sales team will continue
to focus on the areas of pediatrics, primary care and
We remind investors that on Jan 2, 2013 Pernix Therapeutics
announced the completion of the acquisition of Hawthorn Pharma.
The erstwhile Hawthorn Pharma offered branded pharmaceutical
products for allergy, respiratory, iron deficiency, nephrology
and pain management.
Concurrent with the restructuring, Pernix Therapeutics also
announced a change in top brass. The incumbent Chief
Financial Officer (CFO) David Becker will quit his position
effective Mar 31, 2013 due to personal reasons.
The search for a new CFO is underway. However, Becker will
continue to serve Pernix Therapeutics as a consultant in multiple
areas, including manufacturing, over-the-counter products, and
We remind investors that Pernix also acquired Cypress
Pharmaceuticals, Inc along with Hawthorn Pharma. The erstwhile
Cypress Pharma offered generic drugs targeting the fields of
cough and cold, nutritional supplements, analgesics, urinary
tract, women's health, pre-natal vitamins and dental health.
The acquisitions were announced on Nov 14, 2012 but the terms
of the payment were modified on Dec 28, 2012. The acquisitions
have broadened Pernix Therapeutics' product portfolio.
We note that Pernix has been active on the acquisition front
with the acquisition of Great Southern Laboratories in Jul 2012
and the merger agreement to acquire
Somaxon Pharmaceuticals, Inc
) for $25 million in Dec 2012.
Pernix Therapeutics currently carries Zacks Rank #2 (Buy).
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). Both companies carry a Zacks Rank #1 (Strong Buy).
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