Pernix Therapeutics, LLC (PTX) has recently entered into a co-promotion agreement with Cumberland Pharmaceuticals Inc. (CPIX) for its gastroenterology drug, Omeclamox-Pak.
As per the terms of the agreement, Cumberland will promote the drug to gastroenterologists across the U.S. through its field sales force while Pernix will promote the product through its specialty sales force focusing on select primary care physicians.
We note that Omeclamox-Pak is indicated for the treatment of Helicobacter pylori (H. pylori) infection and duodenal ulcer disease. The drug was approved in the U.S. in 2011.
We remind investors that Pernix Therapeutics entered into a license and supply agreement with a privately-held company Gastro-Entero Logic for the rights of Omeclamox-Pak in 2012.
Pernix promotes its branded products in two main segments – pediatric and gastroenterology products. Apart from Omeclamox-Pak, Pernix also has another drug, Rezyst, in its portfolio in the gastroenterology market. Rezyst is a probiotic blend to promote dietary management.
In recent times, Pernix has been strengthening its product portfolio through acquisitions and promotion agreements.
Pernix completed the acquisitions of Cypress Pharma (a privately-owned generic pharmaceutical company) and Hawthorn Pharma (a privately-owned branded pharmaceutical company) at the end of Dec 2012.
In early Mar 2013, Pernix completed the acquisition of Somaxon Pharmaceuticals, thereby adding insomnia drug Silenor to its portfolio.
Meanwhile, Pernix completed the sale of some of its non-core assets to privately-held Breckenridge Pharmaceutical in Sep 2013.
We are encouraged by Pernix’s efforts to consolidate its product portfolio.
Pernix currently carries a Zacks Rank #3 (Hold). Right now, Actavis, Inc. (ACT) and Akorn, Inc. (AKRX) look attractive with a Zacks Rank #2 (Buy).
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