Pernix Therapeutics appoints Board member John Leone as Lead Independent Director

– USA, NJ – Pernix Therapeutics Holdings, Inc. (NASDAQ:PTX), a specialty pharmaceutical company, today announced the appointment of Director John R. Leone as its Lead Independent Director. Mr. Leone joined the Pernix Board of Directors in November 2017. He is currently an Operating Partner at Madryn Asset Management, an investment fund focused on providing capital to healthcare companies.

The appointment of Mr. Leone as the Pernix Board’s Lead Independent Director fulfills the commitment that the Company made to make such an appointment in connection with the Company’s 2017 Annual Shareholder Meeting.

Pernix also announced the promotion of Angus Smith to Senior Vice President, Chief Business Officer and Principal Financial Officer.

“Angus has demonstrated strong leadership as we have improved our profitability, increased the Company’s financial flexibility and now seek to license and acquire innovative products to leverage our sales, marketing and corporate infrastructure,” said John Sedor, Chairman of the Board and Chief Executive Officer of Pernix. “We look forward to Angus continuing to make significant contributions in his new position as we further strengthen and grow our business.”

Mr. Smith will report to directly to Mr. Sedor, and will primarily be responsible for the oversight of the Company’s financial operations. He and Glenn Whaley, who was previously announced as the Company’s Vice President, Finance and Interim Prinicipal Accounting Officer, will work closely to manage Pernix’s financial controls and reporting, including Sarbannes-Oxley compliance. Mr. Smith will also be responsible for managing the Company’s business development activities, as well as relationships with investors and other key constituents in the financial community. Mr. Smith was involved in the completion of a series of refinancing transactions intended to improve Pernix’s liquidity and extend debt maturities, which was announced in July 2017. He joined Pernix in September 2014 as Vice President, M&A and Corporate Finance, and was appointed Vice President, Business Development & Strategic Planning, in July 2016. Prior to joining Pernix, Mr. Smith served as a Director in the Healthcare Investment Banking Group at Cantor Fitzgerald. He has worked on over 60 transactions across the healthcare sector with an aggregate transaction value of more than $15 billion.

About Pernix Therapeutics

Pernix Therapeutics is a specialty pharmaceutical business with a focus on acquiring, developing and commercializing prescription drugs primarily for the U.S. market. The Company is currently focused on the therapeutic areas of Neurology and Pain, and has an interest in expanding into additional specialty segments. The Company promotes its branded products to physicians through its internal sales force and markets its generic portfolio through its wholly owned subsidiaries, Macoven Pharmaceuticals, LLC and Cypress Pharmaceutical, Inc.

For more information : http://www.pernixtx.com

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