Good News for Pernix Therapeutics

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Pernix Therapeutics Holdings, Inc (PTX) recently announced that its subsidiary, Hawthorn Pharmaceuticals, Inc., has received approval from the US Food and Drug Administration (:FDA) for VITUZ oral solution (hydrocodone bitartrate and chlorpheniramine maleate).

The US regulatory body has cleared VITUZ for the relief of cough and symptoms associated with upper respiratory allergies or common cold in adults. The approval of VITUZ expands Pernix’s cough and cold product line. The company plans to launch VITUZ in late 2013.

We remind investors that on Jan 2, 2013 Pernix Therapeutics completed the acquisition of Hawthorn Pharma. The erstwhile Hawthorn Pharma offered branded pharmaceutical products for allergy, respiratory, iron deficiency, nephrology and pain management.

We note that Pernix also acquired Cypress Pharmaceuticals, Inc along with Hawthorn Pharma in Jan 2013. The erstwhile Cypress Pharma offered generic drugs targeting the fields of cough and cold, nutritional supplements, analgesics, urinary tract, women’s health, pre-natal vitamins and dental health.

Concurrent with the FDA approval for VITUZ, Pernix also announced that the FDA has granted final approval to its subsidiary, Cypress Pharmaceuticals, Inc., for an abbreviated new drug application (ANDA) for mefenamic acid capsules USP, 250 mg.

Mefenamic acid capsules are a generic version of Shinonogi’s Ponstel and are primarily indicated for the relief of mild-to-moderate pain in patients aged 14 years and above. The drug is also approved for treating primary dysmenorrhea. Pernix expects to launch the drug in the second quarter of 2013.

Pernix Therapeutics currently carries a Zacks Rank #2 (Buy). Other pharma stocks, which also appear to be attractive, include Avanir Pharmaceuticals (AVNR), Furiex Pharmaceuticals (FURX) and Mylan Inc. (MYL). All 3 stocks carry a Zacks Rank #2.

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