Breckenridge to acquire certain Cypress assets

Privately-held US generic drugmaker Breckenridge Pharmaceutical has entered into an agreement to acquire from Pernix Therapeutics (NYSE: PTX) certain assets from its subsidiary, Cypress Pharmaceutical, for $30 million.

The assets include 11 Abbreviated New Drug Applications filed with the US Food and Drug Administration, certain ANDAs in various stages of development, as well as seven 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 the FDA.