Chicago, IL 3/7/12 (StreetBeat) -- Cornerstone Therapeutics Inc. (NASDAQ: CRTX) today announced the divestiture of certain product rights to Factive® (gemifloxacin mesylate) tablets and the Spectracef® (cefditoren pivoxil) family of products in a series of transactions with Merus Labs International Inc. (NASDAQ: MSLI) and Vansen Pharma Inc.Under terms of the agreements, Cornerstone will receive an undisclosed amount of cash consideration for the product rights and inventory transferred and the acquirers will assume certain product related liabilities.
"We are excited to announce the next significant step in the execution of our strategic plan," said Craig A. Collard, Cornerstone's Chief Executive Officer. "We began a migration out of the primary care market segment in 2011 and with today's transactions, we have completed this process. Going forward, with our existing product portfolio, FDA product filings and development projects, we are well positioned to grow our company within the hospital and related specialty markets."
About Cornerstone Therapeutics
Cornerstone Therapeutics Inc, headquartered in Cary, N.C., is a specialty pharmaceutical company focused on commercializing products for the hospital, niche respiratory and related specialty markets. Key elements of the Company's strategy are to focus its commercial and internal development efforts in the hospital and related specialty product sector within the U.S. pharmaceutical marketplace; continue to seek out opportunities to acquire companies and marketed and/or registration-stage products that fit within the Company's focus areas; and generate revenues by marketing approved generic products through the Company's wholly-owned subsidiary, Aristos Pharmaceuticals, Inc.
About Merus Labs International Inc.
Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. The Company utilizes its expertise in the North American pharmaceutical markets and its access to capital to acquire and license niche branded products in Canada and United States. Merus further enhances the sale and distribution of these products by introduction of a focused marketing and promotion plan.
About Vansen Pharma
Vansen Pharma is a sales and marketing organization focused on specialty pharmaceutical products. Vansen Pharma focuses on broad therapeutic areas which are still anticipated to grow and represent an opportunity for major expansion. With its focused sales force, Vansen Pharma can better serve the increasing healthcare needs of patients and enhance growth.
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