[$$] Drug Maker Pernix Therapeutics Files for Bankruptcy, Blaming Competition From Generics

The Wall Street Journal - finance.yahoo.com Posted 1 year ago

Holdings Inc., which makes painkiller Zohydro and other medications, has filed for bankruptcy protection after drug sales to consumers fell below expectations. It blamed a revenue drop partly on fresh competition with generic versions of its migraine treatment Treximet. In documents filed in U.S. Bankruptcy Court in Wilmington, Del., company officials said they already have a $76 million offer from affiliates of Highbridge Capital Management LLC, which offered to pay cash and forgive some of its debt.

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