Pernix Therapeutics Holdings, Inc.
In December of 2012, Pernix Therapeutics Holdings (NYSEMKT: PTX) announced its intention to acquire Somaxon Pharmaceuticals in a stock-for-stock deal that values the smaller drug-maker at about $25 million. Under the terms of the deal, Somaxon shareholders' holdings will be converted into Pernix stock. If no unexpected hurdles arise to derail the merger, it should become final by the end of the second quarter of 2013.
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Silenor, a drug used to treat those who have trouble sleeping, is the focus in the commercial activities of Somaxon Pharmaceuticals (UNKNOWN: SOMX.DX). It has earned the specialty pharmaceutical company a gain in the stock market of 80% to $2.94 in the Dec 13 close. The medicine is approved by the FDA for the treatment of insomnia and is considered non-addictive. Results of clinical trials show that it maintains more »