Jackson Walker is representing Pernix Therapeutics Holdings, Inc. in its deal to acquire Somaxon Pharmaceuticals, Inc. On Dec. 11, 2012, the two companies announced that they have reached a definitive merger agreement for Pernix to acquire Somaxon in a stock-for-stock transaction with a total equity value of $25 million. The acquisition, which is expected to close in the first quarter, is subject to shareholder approval and the satisfaction of other terms and conditions.
Based in The Woodlands, Texas, Pernix (NYSE: PTX) develops, markets and sells pharmaceutical products with an emphasis on the pediatric market. Somaxon (NASDAQ: SOMX), based in San Diego, Calif., develops and markets pharmaceuticals, including the insomnia drug Silenor. The acquisition of Somaxon is in keeping with Pernix’s focus on expanding its product portfolio.
Pernix is represented by a Jackson Walker team led by Jeff Harder and including David Deaton, Ron Kerridge, Jim Griffin, Sara Borrelli, Joe Fonlon, Joseph Guajardo, and Anita Barksdale. Jackson Walker’s successful representation of Pernix demonstrates the firm’s extensive expertise in working with Emerging Companies at all stages of development as well as its significant experience in all types of Mergers & Acquisitions.
