MORRISTOWN, N.J, April 23, 2018 (GLOBE NEWSWIRE) — Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX), a specialty biologic company, today appear that it has agreed to participate in an broker accumulation (collectively with Pernix, the “Investors”) that has entered into a “stalking horse” asset acquirement acceding to access assertive assets of Orexigen Therapeutics, Inc. (“Orexigen”), including common rights to Contrave® (naltrexone HCl / bupropion HCl), a prescription-only weight accident medication, for $75 actor in cash.
Pursuant to a non-binding appellation area acceding amid Pernix and the broker accumulation (the “Term Sheet”), a anew formed appropriate purpose agent (“SPV”) capitalized by the Investors has entered into an asset acquirement acceding to access Contrave and assertive added Orexigen assets. Contrave is the best assigned weight accident cast in the United States. The artefact was accustomed by the U.S. Food and Drug Administration in September 2014. Contrave, accepted as MysimbaTM (naltrexone HCl and bupropion HCl abiding release) in assertive markets alfresco the U.S., is additionally marketed in 25 added countries area it is broadcast by a arrangement of partners.
Pursuant to the Appellation Sheet, should the broker accumulation complete this transaction, Pernix will accept a administration fee equal to 5% of net sales acquired by the SPV and acceding of assertive accumulated casework costs at amount in barter for d albatross for artefact administration in the United
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