Pernix Therapeutics Holdings, Inc. (PTX), a specialty pharmaceutical company, today announced the appointment of John Sedor as a non-executive Director and Chairman of the Compensation Committee of its Board of Directors. Mr. Sedor has more than 30 years of proven leadership in the global pharmaceutical, biopharmaceutical, consumer product and generic drug industries. John is recognized for his entrepreneurial leadership approach to turnaround and rapid growth environments, leveraging strategic creativity, consumer and professional customer insight, merger and acquisition experience and operational expertise. Prior to his current role as President and CEO at Rodes Inc., John most recently served as President, CEO and Director of Cangene Corporation, one of the world’s leading biopharmaceutical companies in the development, manufacture and commercialization of therapies targeting infectious disease, hematology/oncology and transplantation. Under his guidance, Cangene was acquired by Emergent BioSolutions in February 2014. Prior to joining Cangene, he served as President, CEO and Director of CPEX Pharmaceuticals, Inc., a specialty drug delivery pharmaceutical company, and managed its spin-off from Bentley Pharmaceuticals, Inc. Prior to that, he was President of Bentley, which expanded its nanotechnology programs and added more than 20 new product approvals in the European market under his leadership. In 1996, John created Centeon LLC to develop and commercialize plasma protein biotherapeutics. Other previous roles include President of Sandoz Inc. (Novartis), and various senior positions at Verion, Rorer Pharmaceutical Co., Revlon Health Care Group and Armour Pharmaceutical Company.
Mr. Sedor will join Doug Drysdale, Pernix Chairman, President and CEO, Michael Pearce, Pernix’s former Chairman, President and CEO, and Steve Elms, Managing Partner at Aisling Capital, on the Pernix board of directors. In addition to his appointment as Chairman of the Compensation Committee, Mr. Sedor will also be appointed to the Audit Committee and the Nominating Committee of the Board. The board is currently recruiting to add an additional independent director to complete the reshaping of its board of directors as originally announced on February 24, 2014 and to regain compliance with the NASDAQ requirements that the Company’s Audit Committee must have three independent members and that a majority of the Company’s Board of Directors be independent as set forth in NASDAQ Listing Rules 5605(c)(2) and 5605(b)(1), respectively.
Commenting on the appointment, Pernix’s Chairman, President and CEO, Doug Drysdale said, “On behalf of our entire Board, I am very pleased to welcome John as a new independent Director of Pernix. We are fortunate to attract an executive with John’s pedigree and experience to our Board and I am confident that John will contribute significantly to our growth plans going forward."
About Pernix Therapeutics Holdings, Inc.
Pernix Therapeutics is a specialty pharmaceutical company primarily focused on the sales, marketing, manufacturing and development of branded pharmaceutical products. The Company markets a portfolio of branded products, including: CEDAX®, an antibiotic for middle ear infections and a number of treatments for cough and cold conditions including ZUTRIPRO®, REZIRA® and VITUZ®. The Company also markets SILENOR, a non-narcotic product for the treatment of insomnia. The Company promotes its branded products to physicians through its Pernix sales force and markets its generic portfolio through its wholly owned subsidiaries, Cypress Pharmaceuticals and Macoven Pharmaceuticals. The Company’s wholly owned subsidiary, Pernix Manufacturing, manufactures and packages products for the pharmaceutical industry in a wide range of dosage forms. Founded in 1996, the Company is based in Houston, TX.
Additional information about Pernix is available on the Company’s website located at www.pernixtx.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements including words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target” or similar expressions are forward-looking statements. Because these statements reflect the Company’s current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Investors should note that many factors, as more fully described under the caption "Risk Factors" in our Form 10-K, Form 10-Q and Form 8-K filings with the Securities and Exchange Commission and as otherwise enumerated herein or therein, could affect the Company’s future financial results and could cause actual results to differ materially from those expressed in forward-looking statements contained in the Company’s Annual Report on Form 10-K. The forward-looking statements in this press release are qualified by these risk factors. These are factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
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Doug Drysdale, (800) 793-2145 ext. 7407
President and Chief Executive Officer