Pernix Therapeutics Receives FDA Approvals

  Pernix Therapeutics Receives FDA Approvals

   VITUZ® Approved as a Prescription Treatment for Cough and Cold Symptoms
              Company Receives ANDA Approval for Mefenamic Acid

Business Wire

THE WOODLANDS, Texas -- February 28, 2013

Pernix Therapeutics Holdings, Inc. (“Pernix” or the “Company”) (NASDAQ: PTX),
a specialty pharmaceutical company, today announced that its subsidiary,
Hawthorn Pharmaceuticals, Inc., has received U.S. Food and Drug Administration
(FDA) approval of a new drug application (NDA) for VITUZ® Oral Solution
(hydrocodone bitartrate and chlorpheniramine maleate). VITUZ is indicated for
the relief of cough and symptoms associated with upper respiratory allergies
or a common cold in adults 18 years of age and older.

The Company today also announced that its subsidiary, Cypress Pharmaceuticals,
Inc., was granted final approval by the FDA for an abbreviated new drug
application (ANDA) for Mefenamic Acid Capsules USP, 250 mg. This product is
the generic version of Ponstel Capsules, 250 mg, and is indicated for relief
of mild-to-moderate pain in patients 14 years of age and older and the
treatment of primary dysmenorrhea.

Cooper Collins, President and CEO of Pernix, said, “VITUZ broadens our cough
and cold product line and is our first NDA approved by the FDA, since we
closed the acquisition of Hawthorn and Cypress at the end of December 2012. We
look forward to the launch of this new treatment option for cough and cold
symptoms, which is expected prior to the fall of this year.”

Mr. Collins continued, “We are also pleased to receive regulatory approval
from the FDA for Mefenamic Acid Capsules, a generic version of Ponstel
capsules. We expect to launch this product in the second quarter of 2013.”

Indication for VITUZ®
VITUZ® Oral Solution is a combination of hydrocodone bitartrate, an
antitussive, and chlorpheniramine maleate, a histamine-1 (H1) receptor
antagonist, indicated for relief of cough and symptoms associated with upper
respiratory allergies or a common cold for adults 18 years of age and older.

Important Safety Information for VITUZ®
VITUZ® is contraindicated in patients with known hypersensitivity to
hydrocodone bitartrate, chlorpheniramine, or any of the inactive ingredients
of VITUZ®; in patients receiving monoamine oxidase inhibitor (MAOI) therapy or
within 14 days of stopping such therapy, and in patients with narrow angle
glaucoma, urinary retention, severe hypertension or severe coronary artery
disease. The possibility of tolerance and/or dependence, particularly in
patients with a history of drug dependence, should be considered. Avoid in
patients with head injury, intracranial lesions, or increased intracranial
pressure. Exercise caution when using because of the potential for respiratory
depression. Patients should be advised to avoid engaging in hazardous tasks
that require mental alertness and motor coordination such as operating
machinery or driving a motor vehicle as VITUZ® Oral Solution may produce
marked drowsiness. VITUZ® Oral Solution should not be taken with alcohol or
other CNS depressants. Use with caution in patients with acute abdominal
conditions and in patients with thyroid disease, Addison’s disease, prostatic
hypertrophy, urethral stricture, or asthma.

The most common adverse reactions of VITUZ® Oral Solution include: Sedation,
somnolence, mental clouding, lethargy, impairment of mental and physical
performance, anxiety, fear, dysphoria, dizziness, nausea, psychic dependence,
mood changes; blurred, double, or other visual disturbances; confusion,
headache, euphoria, facial dyskinesia, feeling faint, lightheadedness,
agitation, irritability, and tremor.

Indication for Mefenamic Acid Capsules
Mefenamic acid capsules are indicated for relief of mild to moderate pain in
patients 14 years of age and older, when therapy will not exceed one week (7
days). The product is also indicated for treatment of primary dysmenorrhea.

Important Safety Information for Mefenamic Acid Capsules
Patients should be informed of the following information before initiating
therapy with an NSAID and periodically during the course of ongoing therapy.
Patients should also be encouraged to read the NSAID Medication Guide that
accompanies each prescription dispensed.

Mefenamic acid capsules, like other NSAIDs, may cause serious CV side effects,
such as MI or stroke, which may result in hospitalization and even death.
Although serious CV events can occur without warning symptoms, patients should
be alert for the signs and symptoms of chest pain, shortness of breath,
weakness, slurring of speech, and should ask for medical advice when observing
any indicative sign or symptoms. Patients should be apprised of the importance
of this follow-up.

Mefenamic acid capsules, like other NSAIDs, can cause GI discomfort and,
rarely, serious GI side effects, such as ulcers and bleeding, which may result
in hospitalization and even death. Although serious GI tract ulcerations and
bleeding can occur without warning symptoms, patients should be alert for the
signs and symptoms of ulceration and bleeding, and should ask for medical
advice when observing any indicative sign or symptoms including epigastric
pain, dyspepsia, melena, and hematemesis. Patients should be apprised of the
importance of this follow-up.

Mefenamic acid capsules, like other NSAIDs, can cause serious skin side
effects such as exfoliative dermatitis, SJS, and TEN, which may result in
hospitalizations and even death. Although serious skin reactions may occur
without warning, patients should be alert for the signs and symptoms of skin
rash and blisters, fever, or other signs of hypersensitivity such as itching,
and should ask for medical advice when observing any indicative signs or
symptoms. Patients should be advised to stop the drug immediately if they
develop any type of rash and contact their physicians as soon as possible.

Patients should promptly report signs or symptoms of unexplained weight gain
or edema to their physicians.

Patients should be informed of the warning signs and symptoms of
hepatotoxicity (e.g., nausea, fatigue, lethargy, pruritus, jaundice, right
upper quadrant tenderness, and “flu like” symptoms). If these occur, patients
should be instructed to stop therapy and seek immediate medical therapy.

Patients should be informed of the signs of an anaphylactoid reaction (e.g.,
difficulty breathing, swelling in the face or throat). If these occur,
patients should be instructed to seek immediate emergency help.

In late pregnancy, as with other NSAIDs, mefenamic acid should be avoided
because it may cause premature closure of the ductus arteriosus.

About Pernix Therapeutics Holdings, Inc.
Pernix Therapeutics is a specialty pharmaceutical company primarily focused on
the sales, marketing, manufacturing and development of branded, generic and
OTC pharmaceutical products. The Company manages a portfolio of branded
products, including the recently acquired Hawthorn Pharmaceuticals’ product
line. The Company’s branded products for the pediatrics market include CEDAX®,
an antibiotic for middle ear infections, NATROBA™, a topical treatment for
head lice marketed under an exclusive co-promotion agreement with ParaPRO,
LLC, and a family of treatments for cough and cold (ZUTRIPRO®, BROVEX®, ALDEX®
and PEDIATEX®). The Company’s branded products for gastroenterology include
OMECLAMOX-PAK®, a 10-day treatment for H. pylori infection and duodenal ulcer
disease, and REZYST™, a probiotic blend to promote dietary management. The
Company promotes its branded pediatric and gastroenterology products through
its sales force. Pernix markets its generic products through its wholly-owned
subsidiaries, Cypress Pharmaceuticals and Macoven Pharmaceuticals. The
Company’s wholly-owned subsidiary, Great Southern Laboratories, manufactures
and packages products for the pharmaceutical industry in a wide range of
dosage-forms. A product candidate utilizing cough-related intellectual
property is in development for the U.S. OTC market. Founded in 1996, the
Company is based in The Woodlands, 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. No assurances can
be given regarding the Company’s future performance. 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. 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.

Contact:

Pernix Therapeutics Holdings, Inc.
Joseph T. Schepers, (800) 793-2145 ext. 3002
Director, Investor Relations
jschepers@pernixtx.com