Currax™ Holdings USA LLC Announces Launch and Close of Acquisition

Industry veterans George Hampton and Terry Evans appointed CEO and
COO, respectively

Company to leverage enhanced capital structure to fuel organic growth
and opportunistic acquisitions

MORRISTOWN, N.J.–(BUSINESS WIRE)–Currax™ Holdings USA LLC (“the Company”) today announced its launch, in
conjunction with the closing of a strategic transaction. Currax Holdings
USA LLC is a privately held holding company that wholly owns Currax
Pharmaceuticals LLC (“Currax”) and Persion Pharmaceuticals LLC
(“Persion”), specialty pharmaceutical businesses focused on acquiring
and commercializing prescription drugs within the U.S. market.

Currax Holdings USA LLC was launched simultaneous with the completion of
its acquisition of substantially all the assets from Pernix Therapeutics
Holdings, Inc. (“Pernix”). As a result of the acquisition, Currax
Holdings USA LLC is now a portfolio company of certain funds managed by
Highbridge Capital Management, LLC (“Highbridge”). Currax now
distributes the Branded and generic medications formerly owned by
Pernix. All medications will continue to be distributed via retail
pharmacies and the Prescriptions Direct® program. Other patient support
programs including those intended to lower the out-of-pocket costs of
Currax medications will continue to be available without disruption.
Currax also owns a 10% stake in Nalpropion™ Pharmaceuticals, Inc.
(“Nalpropion”), the owner of the market leading branded weight loss
medication, Contrave®.

“Currax’s enhanced capital structure will enable us to accelerate
existing portfolio medications and pursue a robust growth strategy
through acquisitions and strategic partnerships with our current
products in both Branded and generic markets,” said George Hampton,
newly appointed Chief Executive Officer of Currax Holdings USA LLC. “We
are laser focused on our broader mission to provide greater access to
life-changing medications for healthcare providers and the patients they
serve. I am delighted that our highly experienced management team will
continue on with Currax and I look forward to working with them to
accomplish our goals.”

George Hampton brings nearly three decades of industry experience to his
role as CEO of Currax Holdings USA LLC. Hampton will also serve as CEO
of Nalpropion Pharmaceuticals. Previously, he was Executive Vice
President of the Primary Care Business at Horizon Pharma (NASDAQ: HZNP),
a multi-billion dollar biopharmaceutical company. At Horizon, Hampton
reported directly to the CEO and also led the Global Orphan Business
Unit and International Operations. Across these business units, Mr.
Hampton led efforts to identify, develop, acquire and commercialize
differentiated and accessible medicines addressing unmet medical needs.

Currax Holdings USA LLC has also appointed Terry Evans Chief Operating
Officer. Mr. Evans joins the Company from Horizon Pharma, where he was
Senior Vice President and General Manager of Managed Care and Trade. He
brings over two decades of expertise in pharmaceutical distribution and
operations.

The Company will be headquartered in Morristown, NJ. More information
about Currax can be found at www.curraxpharma.com

Additional Information

The creation of Currax Holdings USA LLC follows the Highbridge funds’
acquisition of substantially all the assets of Pernix, including the
rights to all Branded and generic products, per the firm’s previously
disclosed “stalking-horse bid” for $75.6 million in the form of cash and
credit bid consideration. The asset purchase agreement was announced in
conjunction with Pernix’s voluntary filing for Chapter 11 protection
under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the
District of Delaware. The transaction was completed following customary
closing conditions, including approval of the transaction by the
bankruptcy court pursuant to a motion on April 15, 2019.

Highbridge was advised by Ducera Partners LLC and Skadden, Arps, Slate,
Meagher & Flom LLP.

Pernix was advised by Guggenheim Securities, LLC, Davis Polk & Wardwell
LLP, and Ernst & Young LLP.

About Currax Holdings USA LLC

Currax Holdings USA LLC is a privately-held holding company focused on
acquiring and commercializing prescription drugs within the U.S. market.
Currax Holdings USA LLC is the parent of several subsidiaries, including
Currax Pharmaceuticals LLC and Persion Pharmaceuticals LLC, specialty
pharmaceutical businesses focused on acquiring and commercializing
prescription drugs within the US Market.

Contacts

Edelman Financial Communications
Arielle Patrick
[email protected]