Pharma firm chooses Morristown over Houston

The new corporate headquarters of Pernix, a specialty pharmaceutical company that left Houston for Morristown. Photo: Google Maps.

The new corporate headquarters of Pernix, a specialty pharmaceutical company that left Houston for Morristown. Photo: Google Maps.

 

Maybe Houston was a little too sleepy for Pernix.

The specialty pharmaceutical company, which sells an insomnia drug, has moved its corporate headquarters to Morristown.

NJ Biz reports that Pernix Therapeutics Holdings Inc., has signed a longterm lease at 10 North Park Place for its executive offices.

Morristown’s proximity to pharma talent, its downtown amenities, and convenient rail access to New York all were pluses, NJ Biz reported.

Overlooking the historic Morristown Green, the offices have nearly 6,500 square feet of space with room to expand, the article said.  About a dozen top-level Pernix executives work there.

The publicly traded company’s products include Silenor, a non-narcotic treatment for insomnia; Cedax, an antibiotic for middle ear infections ; and Khedezla, a treatment for major depressive disorder, according to a company statement.

“Establishing Pernix’s headquarters in Morristown, New Jersey, continues our efforts to build Pernix into a focused specialty pharmaceutical company with an experienced management team that is well-positioned for additional product acquisitions,” Doug Drysdale, president and CEO of Pernix, said in the company’s statement.

Morristown Mayor Tim Dougherty said the move suggests that Morristown is becoming a desirable business address, in addition to being a hot residential and entertainment destination.

“After over $700 million of new investment during the past decade, the town’s ability to attract major corporate players like Pernix marks a new phase of our smart growth and is part of a larger trend — more employers and their employees want to be in an active downtown setting, not hidden away in some office park,” said the Mayor.

He pledged to work to attract more businesses within the framework of Morristown Moving Forward, the town’s newly adopted master plan.

One of Pernix’s neighbors at 10 North Park Place is Gensler, the global design firm.

Kevin Coughlin contributed to this report.



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