Pernix Therapeutics, a US-based speciality pharmaceutical company primarily focused on the paediatric market, has agreed to acquire the privately held generics developer Cypress Pharmaceutical and its branded pharmaceuticals subsidiary Hawthorn Pharmaceuticals for up to US$101 M in cash and stock. Cypress and Hawthorn are together expected to generate revenues of approximately US$50 M in 2012. The acquisition is Pernix’s second of 2012 after its July purchase of Great Southern Laboratories, a contract manufacturer of OTC and prescription products.