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PTX > SEC Filings for PTX > Form 8-K on 3-Apr-2014All Recent SEC Filings

Show all filings for PERNIX THERAPEUTICS HOLDINGS, INC.

Form 8-K for PERNIX THERAPEUTICS HOLDINGS, INC.


3-Apr-2014

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

On April 1, 2014, Pernix Therapeutics Holdings, Inc. issued a press release announcing that it has signed a definitive agreement to divest its Houston, TX-based manufacturing operations, Pernix Manufacturing, LLC ("PML") to Woodfield Pharmaceutical LLC ("Woodfield"). Woodfield will acquire the entire PML operation and will assume the mortgage associated with the facility. Pernix expects to receive approximately $1.2 million in net proceeds at closing and realize approximately $5.0 million in annualized cost savings from the divestiture. As part of the agreement, Woodfield will continue to manufacture the existing Pernix products under a long-term supply agreement. The transaction is expected to close on or about April 15, 2014, subject to standard closing conditions and deliveries. A copy of this press release is attached hereto as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1 Press Release of Pernix Therapeutics Holdings, Inc. dated April 1, 2014.


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