Sorrento's Scilex launching ZTlido in October

Scilex Pharmaceuticals Inc. (San Diego, Calif.), a subsidiary of Sorrento Therapeutics Inc. (NASDAQ:SRNE), expects to launch ZTlido 1.8% lidocaine patch in October at a wholesale acquisition cost (WAC) of $8.98 per patch. FDA approved the product in February to treat pain associated with postherpetic neuralgia.

This month, Scilex raised $140 million through a debt financing from Morgan Stanley. The company said it will repay the debt through quarterly payments of 10-20% of net sales of Ztlido, which could increase depending on those sales (see “Sorrento Subsidiary Raises $140M to Launch Pain Patch”)...