Breckenridge Enters Into Agreement to Acquire Certain Cypress Assets from Pernix Therapeutics

  Breckenridge Enters Into Agreement to Acquire Certain Cypress Assets from
                             Pernix Therapeutics

PR Newswire

BOCA RATON, Fla., Aug. 9, 2013

BOCA RATON, Fla., Aug. 9, 2013 /PRNewswire/ --Breckenridge Pharmaceutical,
Inc. announced today that it has entered into an agreement to acquire from
Pernix Therapeutics, certain assets from its subsidiary, Cypress
Pharmaceuticals, for $30 million. The assets include 11 Abbreviated New Drug
Applications (ANDAs) filed with the FDA, certain ANDAs in various stages of
development, as well as 7 previously marketed products. In addition to
solid-oral products, the assets include various unique dosage forms, such as
ophthalmic, nasal spray, oral solution, syrup, and powder products.
Breckenridge will continue to market the approved products and to prosecute
those ANDAs currently filed and pending with FDA. "Breckenridge sees this
acquisition as an opportunity to expand our current portfolio, as well as our
R&D pipeline. The Cypress assets are a natural fit to and complement the
Breckenridge portfolio," stated Larry Lapila, Executive Vice President of
Breckenridge Pharmaceutical, Inc. The closing is expected to occur by
mid-September 2013.

About Breckenridge:
Breckenridge Pharmaceutical, Inc. is a privately-held pharmaceutical
marketing, research and development company founded in 1983 that markets a
broad range of generic prescription products in many therapeutic categories.
The Breckenridge label is recognized by Wholesalers, Distributors, Chains, and
Managed Care Accounts, as well as Retail Pharmacies nationwide. The company
markets over 70 products in a variety of dosage forms including: Tablets,
Capsules, Soft Gel Capsules, Liquids, Suspensions, and Powders.

SOURCE Breckenridge Pharmaceutical, Inc.

Contact: Breckenridge Pharmaceutical, Inc., Larry Lapila, Executive Vice
President, TEL: 860-828-8140, e-Mail:, Eugene Kim, Vice
President-Corporate Strategy/General Counsel, TEL: 646-448-1302, e-Mail:
Press spacebar to pause and continue. Press esc to stop.