Pernix Therapeutics Holdings Inc. (NYSE: PTX) will acquire Somaxon Pharmaceuticals Inc. (Nasdaq: SOMX) in a stock-for-stock deal valued at $25 million.

Somaxon, headquartered in Solana Beach, Calif., makes Silenor, a prescription sleep medication for patients with insomnia.

Pernix is a specialty pharmaceutical company based in the Woodlands, Texas that develops generic pharmaceutical products. The company agreed to buy Cypress Pharmaceutical Inc. and Hawthorn Pharmaceuticals Inc. in November for $101 million. 

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.