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PTX > SEC Filings for PTX > Form 8-K on 31-Oct-2013All Recent SEC Filings

Show all filings for PERNIX THERAPEUTICS HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro



Other Events

Item 8.01 Other Events.

On October 24, 2013, Pernix Therapeutics Holdings, Inc. ("the Company") entered into an agreement through its subsidiary, Pernix Therapeutics, LLC, with Cumberland Pharmaceuticals Inc. ("Cumberland") for the promotion and distribution of Omeclamox-Pak® covering the United States.

With an effective date of October 1, 2013, the terms of the agreement provide for Cumberland to promote the product to gastroenterologists across the United States through its field sales force which also promotes its Kristalose® brand. The Company will promote the product through its specialty sales force focusing on select primary care physicians. The companies will cooperate in the marketing and other activities needed to support the commercialization of the brand. Cumberland acquired these product promotion rights for a combination of an upfront payment and future contingent consideration based on achieving revenue thresholds. Additionally, Cumberland will also pay royalties on future sales. The Company and Cumberland had no other agreements before this agreement was entered into.

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