Pernix Therapeutics to acquire Great Southern Laboratories

Tuesday, July 3, 2012 09:08 AM

Pernix Therapeutics Holdings, a specialty pharmaceutical company of The Woodlands, Texas, has entered into a definitive agreement to acquire Great Southern Laboratories, a privately-held pharmaceutical contract manufacturing company of Houston, Texas.

Pernix will pay $4.9 million to acquire substantially all of the assets of Great Southern Laboratories and assume certain liabilities. The assets include buildings and land located in Houston. Pernix anticipates completing this transaction in July 2012.

Pernix expects this acquisition to improve the company’s gross margins on currently-marketed generic products and to provide manufacturing capabilities for the development of its potential OTC and prescription products. Great Southern has an established pharmaceutical manufacturing facility with an existing base of customers in the pharmaceutical industry, which is expected to provide the Pernix with additional income and potential cost savings. Pernix said is committed to continuing contract manufacturing for Great Southern’s current customers.

“This acquisition of Great Southern is another important investment in the future growth of Pernix, which will enable us to develop products more rapidly and provide in-house product development expertise,” said Cooper Collins, president and CEO of Pernix. “We plan to utilize this facility to manufacture certain products currently marketed by Pernix, as well as future branded, generic and OTC products, as we continue to expand and diversify our product portfolio.”

Great Southern Laboratories, based in Houston, Texas, was established in 1980. For more than 30 years, the company has manufactured liquids, tablets, capsules, ointments and creams for pharmaceutical companies. Great Southern Laboratories’ revenues for the fiscal year ended June 30, 2011 were approximately $12 million.

Share:          
CWWeekly

July 27

AB Science warned about putting study volunteers in danger

FDA, Google unite to detect search-data adverse events

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

July

Integrated research partnerships build momentum
Research function provides infrastructure, leverages large pool of health systems' patients and data

'Right to Try' laws challenge clinical trial process
20 states pass, 20 more pending allowing access to study drugs without FDA and IRB approval

Already a subscriber?
Log in to your digital subscription.

Purchase the July issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

June

TransCelerate Biopharma turns three
High-profile consortium has made inroads fixing wasteful practices, but it still has more work ahead

Pharma industry improves its tarnished reputation
Delivering innovation, social responsibility will help rebuild trust

Already a subscriber?
Log in to your digital subscription.

Purchase the June issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs