Last week, Cornerstone Therapeutics Inc. (CRTX) announced the receipt of approval from the United States Bankruptcy Court for Massachusetts district regarding the acquisition of Factive's (gemifloxacin mesylate) commercial rights  in North America and some European countries from Oscient Pharmaceuticals Corp., which filed for Chapter 11 bankruptcy protection in July. The transaction is worth $5 million in cash. Additionally, it includes an amount for purchased inventory, quarterly royalty payments based on adjusted net sales for a period of five years, and the assumption of certain liabilities. Factive, which belongs to the fluoroquinolone class of antibiotics, is indicated for the treatment of community-acquired pneumonia (CAP) of mild to moderate severity and acute bacterial exacerbations of chronic bronchitis (ABECB).  It was launched in the U.S. in September 2004 and is the only fluoroquinolone approved in the U.S. for the five-day treatment of both ABECB and CAP. Factive has generated ...

On July 15, 2009, North Carolina-based specialty pharma company Cornerstone Therapeutics Inc. (CRTX) announced the submission of a regulatory filing with the  US Food and Drug Administration (FDA) for an extended-release antitussive (cough suppressant) product, CRTX 067. On approval, it will compete directly in the narcotic antitussive market, which includes big players like Covidien (COV) and UCB. The company expects the product to hit the US market by 2011.

According to Wolters Kluwer Health, in 2008, there were over 30 million prescriptions generated for oral antitussive and antitussive combinations. Nearly 10 million of these prescriptions were for products that only contained a narcotic antitussive and an antihistamine.

The drug has a huge market opportunity since cough can adversely affect the quality of life, leading patients to seek medical attention. Most antitussive and antitussive combination products currently in the market must be dosed every four to six hours, which can be

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Cornerstone Therapeutics Inc (CRTX), a North Carolina-based specialty pharma company, got into a definitive asset purchase agreement with biopharmaceutical company Oscient Pharmaceuticals Corp. (OSCI) on July13, 2009. Under the agreement, CRTX agreed to purchase the commercial rights of Factive (gemifloxacin mesylate) for $5 million in North America and some European countries from OSCI, which has filed for Chapter 11 bankruptcy protection. Subsequently, the bankruptcy court is expected to pass its verdict within the next two months. Factive is indicated for the treatment of community-acquired pneumonia (CAP) of mild to moderate severity and acute bacterial exacerbations of chronic bronchitis (AECB).  Factive belongs to the fluoroquinolone class of antibiotics. It received FDA approval in May 2007 for the five-day treatment of CAP. Cornerstone Therapeutics currently promotes its products in the United States to respiratory-focused physicians and key retail pharmacies with its specialty sales force. Cornerstone also ...

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Oscient Pharmaceuticals Corp. (OSCI) focuses on cardiovascular /metabolic and respiratory diseases.  The Waltham, Massachusetts-based biopharmaceutical company currently has two marketed products in its portfolio - Antara and Factive. While the sales force has done a commendable job driving growth for both products in 2007, first half 2008 results have been disappointing.

The company recently reduced its revenue guidance for the year by 4%. OscientÂ’s dependence on Antara for top-line growth is a matter of major concern - Antara is competing in a highly crowded cholesterol market and a slowdown in its growth rate would have a major impact on the companyÂ’s growth prospects.

Moreover, Oscient HAs yet to bring a third product on board and sign an agreement for pipeline candidate Ramoplanin. The signing of an out-licensing/ co-development agreement for Ramoplanin would be a major positive for the company. Given the disappointing performance in the first half of the

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