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Pernix in talks with creditors about debt restructuring -sources

Pernix Therapeutics Holdings Inc has started negotiations with creditors to restructure its debt, according to people familiar with the matter, in the latest sign of distress in the specialty pharmaceutical sector.

Pernix is struggling to cope with $340 million of debt after borrowing to buy a pain medication franchise called Zohydro in 2015 and the rights to migraine drug Treximet in 2014.

The Morristown, New Jersey-based company, which focuses on central nervous system medicines, is working with restructuring advisors at investment bank Perella Weinberg Partners LP to explore a solution with its creditors that would boost liquidity, the people said this week.

The sources asked not to be identified because the...