CARY, N.C., Feb. 15 /PRNewswire/ -- Cornerstone BioPharma, Inc., the Triangle-based specialty pharmaceutical company currently focused on the development and commercialization of niche prescription medications in the pain, anti-infective, and respiratory markets, and Adams Laboratories, Inc., a Chester, New Jersey-based pharmaceutical company, have announced a business transaction surrounding the AlleRx(TM) and Humibid(TM) family of products.
In the transaction, Cornerstone BioPharma, Inc. will transfer the Humibid(TM) family of products, including OTC (over-the-counter) medications and prescription strength products to Adams Laboratories, Inc. In exchange, Adams Laboratories will transfer the AlleRx(TM) family of prescription respiratory medications to Cornerstone BioPharma.
Cornerstone BioPharma's national sales force will promote the AlleRx (TM) product line for the temporary relief of symptoms associated with allergic rhinitis, vasomotor rhinitis, sinusitis, and the common cold. Currently, the US allergy market exceeds $3.3 billion in annual sales as more than 50 million Americans suffer from allergy symptoms.
"This relationship presents a significant opportunity for both companies, as both the Humibid(TM) and AlleRx(TM) product lines meet the therapeutic and strategic focus of each organization," states Craig Collard, CEO of Cornerstone BioPharma. "Adams Laboratories is a definitive resource for responsible respiratory care and we are extremely excited to enter into this relationship."
ABOUT CORNERSTONE BIOPHARMA, INC.
Cornerstone BioPharma, Inc., located next to North Carolina's Research Triangle Park, is an emerging specialty pharmaceutical company that is currently focused on the development and commercialization of niche prescription medications in the pain, anti-infective, and respiratory markets. The privately held company owns the rights to a pain product line, three respiratory product lines, and co-promotes the Suprax(R) antibiotic. Cornerstone is actively engaged in the licensing of additional prescription products in niche markets through acquisitions and strategic partnerships.
ABOUT ADAMS LABORATORIES, INC.
Based in Chester, New Jersey, Adams Respiratory Therapeutics develops, markets and sells prescription and non-prescription pharmaceuticals for the treatment of respiratory disorders and diseases. In addition to the Mucinex(R) line of products, the Adams product portfolio includes AlleRx(TM) for the prescription treatment of allergic rhinitis. Adams seeks to become the leading specialty provider of pharmaceuticals for the treatment of a broad range of respiratory diseases via a business development strategy that combines product development, acquisitions and in-licensing tactics. More information can be found on the company's website at http://www.adamslaboratories.com/ .
Cornerstone BioPharma, Inc.