EXETER, N.H.--(BUSINESS WIRE)--Bentley Pharmaceuticals, Inc. (the “Company” or “Bentley”) (NYSE: BNT), today announced that its newly formed subsidiary, CPEX Pharmaceuticals, Inc., has filed an initial registration statement on Form 10 with the Securities and Exchange Commission (SEC) in furtherance of Bentley's plan to separate its drug delivery business from Bentley.