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news.Specialty pharmaceutical company, Pernix Therapeutics Holdings, has entered into a definitive agreement to buy all of the assets of Great Southern Laboratories for $4.9m and assume certain liabilities.
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The assets under certain liabilities include Great Southern’s buildings and land located in Houston, Texas, US.
The acquisition will enable Pernix to improve the company’s gross margins on currently- marketed generic products as well as provide manufacturing capabilities for the development of its OTC, market branded, generic and prescription products.
Pernix president and CEO Cooper Collins said the acquisition of Great Southern is an important investment in the future growth of the company, which will enable it to develop products more rapidly and provide in-house product development expertise.
"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," Collins added.