Houston-based Pernix Therapeutics acquires two pharmaceutical companies

by Stibbs & Co., P.C. on November 14, 2012

While the Houston oil and gas industry does play a major role in this city's growing economy, companies in other industries are also enjoying expansion. Mergers and acquisitions can help push forward a company's pursuits and one Houston-based firm has recently announced a purchase that may ensure its continued success in the region.

The Houston Business Journal reported that Pernix Therapeutics Holdings Inc. has acquired two Mississippi-based pharmaceutical companies for approximately $101 million. The CEO of Pernix, Cooper Collins, said that this is the "most significant acquisition" his firm has conducted in its entire history.

The purchase includes Cypress Pharmaceuticals and Hawthorn Pharmaceuticals, which encompass a total of 170 employees with revenue passing $50 million this year. The deal will be completed by the end of 2012.

"The generic and branded businesses of Cypress and Hawthorn are an excellent fit for Pernix, which is expected to increase the company's revenues for the full year 2013 to approximately $135

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