NEW YORK – Shares of Pernix Therapeutics Holdings Inc. jumped Friday after the Food and Drug Administration expanded approval of the migraine drug Treximet.
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The stock gained 45 cents, or 7 percent, to reach $6.91 in afternoon trading.
The drug is now approved for use in children 12 years and older. Treximet has been approved for adults since 2008. Pernix acquired U.S. rights to the drug in 2014 from GlaxoSmithKline.
Morristown, New Jersey-based Pernix reported just under $21 million in Treximet sales during its fiscal first quarter.