Pernix Inks $101M Deal To Purchase Cypress Pharmaceuticals

Law360, Washington (November 14, 2012, 6:52 PM EST) -- Pediatric pharmaceutical company Pernix Therapeutics Holdings will purchase generic-drug maker Cypress Pharmaceuticals Inc. and its branded subsidiary Hawthorn Pharmaceuticals Inc. in a $101 million deal that will significantly increase its drug pipeline, the company announced Wednesday.

Under the terms of the deal, Pernix will pay $68.5 million in cash and $12.5 million in equity upfront for the Madison, Miss.-based drugmakers, with an additional $10 million to be paid in December 2013 and another $10 million available via milestone payments.

Commercial finance company MidCap Financial LLC will...
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