Pernix Therapeutics Holdings Inc (NASDAQ:PTX), a specialty pharmaceutical company, today announced that the central patent for Zohydro® ER with BeadTek™, U.S. Patent Number 9,132,096, has issued. The patent covers a formulation of a combination of inactive beads with BeadTek abuse deterrent technology and active hydrocodone beads and expires in September 2034. In addition, Zohydro ER with BeadTek will be added to the U.S. Food and Drug Administration’s (FDA) Approved Drug Products with Therapeutic Equivalence Evaluations (commonly known as “the Orange Book”), which identifies drug products approved on the basis of safety and effectiveness by the FDA.
“The issuance of this patent comes after the launch of Zohydro ER with BeadTek on May 4, 2015 and will be a valuable addition to the growing Zohydro ER patent estate,” said Doug Drysdale, Chairman and CEO of Pernix Therapeutics. “This patent further supports the Pernix commitment to the introduction of products promoting the safe use of opioids for appropriate patients.”
BeadTek is a technology that encompasses an indistinguishable mix of inactive beads, active immediate release hydrocodone beads and active extended-release hydrocodone beads. Zohydro ER with BeadTek was approved on January 30, 2015 by the FDA. Zohydro ER with BeadTek delivers an extended release of hydrocodone that provides 12-hour dose duration. When the medication is taken as directed, the inactive beads contained in Zohydro ER with BeadTek remain inert. The inactive beads dissolve independently of the active hydrocodone beads and are designed not to change the 12-hour release properties of the medication. However, when crushed and dissolved in liquids or solvents, the inactive beads are designed to immediately form a viscous gel.
Zohydro ER with BeadTek is indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Zohydro ER does not contain acetaminophen, unlike many immediate-release hydrocodone products, reducing the risk for potential liver toxicity due to overexposure of acetaminophen. Zohydro ER with BeadTek is available in strengths 10mg, 15 mg, 20mg, 30 mg, 40mg, and 50mg. (Original Source)
Shares of Pernix Therapeutics closed yesterday at $3.79. PTX has a 1-year high of $12.88 and a 1-year low of $1.91. The stock’s 50-day moving average is $4.58 and its 200-day moving average is $6.57.
On the ratings front, Pernix has been the subject of a number of recent research reports. In a report issued on September 9, JMP analyst Oren Livnat resumed coverage with a Hold rating on PTX. Separately, on September 3, Brean Murray Carret’s Difei Yang maintained a Buy rating on the stock and has a price target of $14.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Oren Livnat and Difei Yang have a total average return of -1.6% and 6.9% respectively. Livnat has a success rate of 50.0% and is ranked #2721 out of 3766 analysts, while Yang has a success rate of 46.3% and is ranked #720.
Pernix Therapeutics Holdings Inc is a specialty pharmaceutical company focused on the sales, marketing and development of branded and generic pharmaceutical products for sleep, bacterial infections and cough and cold conditions.