Pernix Therapeutics Appoints Tasos Konidaris to Its Board of Directors

MORRISTOWN, N.J.--(BUSINESS WIRE)--

Pernix Therapeutics Holdings, Inc. PTX, a specialty pharmaceutical company, today announced the appointment of Tasos Konidaris as a non-executive Director and as Chairman of the Audit Committee. Mr. Konidaris has served as Senior Vice President and Chief Financial Officer of Ikaria, Inc., a biotherapeutics company, since October 2011. Prior to joining Ikaria, since 2007, Mr. Konidaris served as Senior Vice President and Chief Financial Officer at Dun & Bradstreet (D&B) Corporation, a leading commercial information services company. He was Principal Accounting Officer and led the Global Finance Operations of D&B beginning in 2005. From 2003 to 2005, Mr. Konidaris served as Group Vice President of the Global Pharmaceutical and Global Diversified Products Groups at Schering-Plough Corporation, a pharmaceutical company. Earlier in his career, Mr. Konidaris held senior financial and operational positions of increasing responsibility at the Pharmacia Corporation, Rhone-Poulenc Rorer, Novartis Corporation and Bristol-Myers Squibb Company. Mr. Konidaris holds an MBA from Drexel University, and a BS from Gwynedd Mercy College.

Mr. Konidaris will join Doug Drysdale, Pernix Chairman, President and CEO, Steve Elms, Managing Partner at Aisling Capital, and John Sedor, long-time pharma executive, on the Pernix board of directors. In addition to his appointment as Chairman of the Audit Committee, Mr. Konidaris will also be appointed to the Compensation Committee and the Nominating Committee of the Board. With Mr. Konidaris' appointments to the Board and the Committees, the Company has regained compliance with the NASDAQ requirements that the Company's Audit Committee must have three independent members and that a majority of the Company's Board of Directors be independent as set forth in NASDAQ Listing Rules 5605(c) (2) and 5605(b)(1), respectively.

Commenting on the appointment, Pernix's Chairman, President and CEO, Doug Drysdale said “On behalf of our entire Board, I am very pleased to welcome Tasos as a new independent Director of Pernix. We are fortunate to attract an audit committee chairman with Tasos' financial expertise to our Board and I am confident that Tasos will contribute significantly to our growth plans going forward. The reshaping of our Board, adding more pharmaceutical experience, is an important progression for Pernix as we actively pursue further acquisitions.”

About Pernix Therapeutics Holdings, Inc.

Pernix Therapeutics is a specialty pharmaceutical company primarily focused on the sales, marketing, manufacturing and development of branded pharmaceutical products. The Company markets a portfolio of branded products, including: CEDAX®, an antibiotic for middle ear infections and a number of treatments for cough and cold conditions including ZUTRIPRO®, REZIRA® and VITUZ®. The Company also markets SILENOR, a non-narcotic product for the treatment of insomnia and KHEDEZLA, a treatment for major depressive disorder. The Company promotes its branded products to physicians through its Pernix sales force and markets its generic portfolio through its wholly owned subsidiaries, Cypress Pharmaceuticals and Macoven Pharmaceuticals. The Company's wholly owned subsidiary, Pernix Manufacturing, manufactures and packages products for the pharmaceutical industry in a wide range of dosage forms. Founded in 1996, the Company is now based in Morristown, New Jersey.

Additional information about Pernix is available on the Company's website located at www.pernixtx.com.