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

January 26

2015 CRO outlook: M&As, IPOs, strategic partnerships and increased eClinical outsourcing expected to continue

IOM, industry stakeholders propose standards, guidelines for open sharing of clinical trial data

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January

All eyes on EMA’s adaptive licensing pilot
Sponsors could offer innovative drugs to patients 8 years sooner

Ice Bucket Challenge a boon for ALS research
Donations soar, but phenomenon difficult to replicate

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

December

Growing adoption of feasibility review committees
Early reports cite fewer amendments, improved cycle time

AMCs vying to better compete for industry trials
Working to conquer study start-up delays, IRB review process

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs