Pernix Therapeutics Holdings Inc (NASDAQ:PTX) announced that, due to a manufacturing issue with its supplier, the Company expects that the 20mg strength of Zohydro® ER with BeadTek™ will be on back order until at least the first quarter of 2018. Importantly, Pernix continues to market and distribute the other strengths of Zohydro ER with BeadTek, including the 10mg, 15mg, 30mg, 40mg, and 50mg strengths. The available dosage forms offer prescribers and patients a wide range of dosage options, most of which are consistent with the morphine milligram equivalents that are recommended in the recent Centers for Disease Control and Prevention guidelines for prescribing opioids for Chronic Pain.
Pernix is working closely with wholesalers and prescribers to minimize any disruption caused by the stockout, and with our supplier to ensure the return of the 20mg strength to the marketplace as soon as possible.
While utilization of 10mg, 15mg and 30mg strengths of Zohydro ER with BeadTek are expected to increase in order to fulfill patient needs, the Company anticipates the temporary stockout to impact the overall Zohydro ER with BeadTek prescription volume. Pernix is currently evaluating the scope of any potential impact and will provide further updates, as appropriate.
Shares of Pernix are down nearly 5% to $3.95 in pre-market trading Monday. PTX has a 1-year high of $4.99 and a 1-year low of $3.08. The stock’s 50-day moving average is $3.75 and its 200-day moving average is $3.24.
Pernix Therapeutics Holdings, Inc. engages in the research, development, and manufacture of biopharmaceutical products. It focuses on therapeutics for diseases on central nervous system, neurology, pain, and psychiatry. Its products include treatment of migraine pain and inflammation, insomnia, and depressive disorder. The firm distributes its products under the following brands: Treximet, Silenor, Zohydro ER with BeadTek, and Khedezla.