Pernix Therapeutics Holdings, Inc. (NYSE Amex: PTX) today announced the acquisition of the antibiotic CEDAX® (ceftibuten) from Shionogi Pharma, Inc.
“We are excited about the acquisition of CEDAX® and the value it adds to our company”
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.
Pernix Therapeutics Holdings, Inc.