Lowenstein Sandler represented Pernix Therapeutics Holdings Inc. in its acquisition of the Zohydro® ER Franchise from Zogenix Inc. Under terms of the agreement, Pernix, through its wholly-owned subsidiary, Ferrimill Limited, paid Zogenix $70 million in cash, issued to Zogenix 1,682,086 shares of Pernix common stock and deposited an additional $10 million in cash in escrow to fund potential indemnification claims for a period of 12 months following the closing. Pernix also purchased certain Zohydro ER inventory. The Lowenstein deal team is led by Michael Lerner, Herschel Weinstein, and Park Bramhall, and also included Lowell A. Citron, Marc Kurzweil, Brian A. Silikovitz, Christina Iafe, Jack D. Sidorov, Jeffrey M. Shapiro, Hilla Shimshoni, Tara P. D'Orsi, Michael Amalfe, Sarah Saladini and Eugene Cheval.
April 24, 2015