Sorrento Therapeutics Acquires Scilex

San Diego-based Sorrento Therapeutics said on Tuesday that it has acquired a majority of Scilex Pharmaceuticals, a developer of a lidocaine patch being used to treat postherpetic neuralgia, the chronic pain that sometimes develops with shingles. The deal was worth approximately $47.6M, and was split between both cash and stock. The deal had originally been announced in August.