March 16, 2015
San Diego-based Zogenix, Inc. (Nasdaq: ZGNX), a pharmaceutical company developing and commercializing products for the treatment of central nervous system (CNS) disorders, has announced a definitive agreement to sell its Zohydro® ER (hydrocodone bitartrate) business to Pernix Therapeutics (Nasdaq:PTX) for $100 million plus regulatory and sales milestones up to $283.5 million. The transaction is expected to close in April 2015, subject to customary closing conditions. Latham & Watkins LLP represents Zogenix in the transaction with a corporate team consisting of partners Cheston Larson and Steve Chinowsky and associates Jeff Boerneke and Samuel Duimovich in the firm’s San Diego office. Advice was also provided on finance matters by San Francisco partner Haim Zaltzman with associates Daniel Van Fleet and Nicholas Ainsley; on tax matters by Los Angeles partner Laurence Stein; on benefits and compensation matters by San Diego counsel Holly Bauer; and on FDA/regulatory matters by Washington, D.C. partner Ben Haas.