Triangle-based specialty pharmaceutical company to serve $1.3 billion per year oral cephalosporin market
Cary, NC -- (ReleaseWire) -- 11/13/2006 --Cornerstone BioPharma™, the Triangle-based specialty pharmaceutical company currently focused on the development and commercialization of niche prescription medications in the respiratory arena, today announced the company has obtained exclusive U.S. licensing rights from leading Japanese pharmaceutical company Meiji Seika Kaisha for Spectracef (cefditoren pivoxil).
Spectracef is a cephalosporin oral antibiotic used to treat adults and adolescents (12 years of age or older) with certain bacterial infections of the lungs, throat and skin. The drug is indicated to treat Community-Acquired Pneumonia (CAP), Acute Bacterial Exacerbation of Chronic Bronchitis (ABECB), Pharyngitis/Tonsillitis and Uncomplicated Skin and Skin-Structure Infections (USSSI). Effective immediately, Cornerstone BioPharma’s seasoned sales force will begin promotion and sale of Spectracef to primary care providers, allergists and otolaryngologists nationwide.
“We are pleased and honored to be partnering with such a well-respected leader in the pharmaceutical industry such as Meiji Seika Kaisha,” commented Craig Collard, CEO of Cornerstone BioPharma. “Meiji Seika Kaisha’s Spectracef represents tremendous potential and opportunity for us. In just the past year alone 35 million oral cephalosporin pills were prescribed pushing the market well over the $1.3 billion mark.”
“By strategically aligning our product, Spectracef, with Cornerstone BioPharma’s proven sales organization, we are in a position to make a tremendous positive impact on patients in the U.S. suffering from certain bacterial infections,” commented A Otsubo, Meiji Seika Kaisha executive vice president. “We are pleased and excited to have partnered with Cornerstone BioPharma and look forward to exploring ways through which we can expand upon this relationship in the future.”
Cornerstone BioPharma also promotes the AlleRx ™ product line for the temporary relief of symptoms associated with allergic rhinitis, vasomotor rhinitis, 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.
Cornerstone BioPharma, Inc. (www.cornerstonebiopharma.com), 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 respiratory arena. Cornerstone is actively engaged in strategic licensing of additional prescription products through acquisitions, strategic partnerships and new product development.
About Meiji Seika Kaisha
Since its establishment in 1916, Meiji Seika Kaisha, Ltd. (http://www.meiji.co.jp/en) has long played a part in helping people lead happier and more fulfilling lives. The pharmaceutical company concentrates on providing anti-infectives and central nervous system drugs for the treatment of diseases, and it has a growing line of generic drugs. As an organization that is closely linked to the preservation of good health and life, Meiji Seika will continue to fulfill its social responsibility and provide products that help its customers lead fulfilling lives while adhering to the highest ethical standards.