Pernix Therapeutics Holdings is buying a Houston CMO to get more manufacturing capacity for its own products.
The specialty pharmaceutical company will pay $4.9 million to acquire assets of Great Southern Laboratories, Pernix says in an announcement. That includes buildings and land in Houston. It expects to close the deal this month.
The move should expand Pernix revenues and manufacturing capabilities for branded and generic prescription drugs, as well as over-the-counter products, CEO Cooper Collins says in a statement. Pernix is not leaving Great Southern's existing customers in the cold, however. It says it is "committed to continuing contract manufacturing for Great Southern's current customers."
According to its release, Great Southern Laboratories has been around since 1980 and manufactures liquids, tablets, capsules, ointments and creams for pharmaceutical companies. It had about $12 million in revenue in its fiscal year, which ended June 30.
- here is the Pernix announcement
- read the Houston Business Journal piece