Press Release Summary = Cornerstone BioPharmaT, the Triangle-based specialty pharmaceutical company currently focused on the development and commercialization of niche prescription medications in the respiratory arena, today announced it has signed a co-promotion agreement with SJ Pharmaceuticals (SJP).
Press Release Body = FOR IMMEDIATE RELEASE
CARY, NORTH CAROLINA - July 9, 2007- Cornerstone BioPharmaT, the Triangle-based specialty pharmaceutical company currently focused on the development and commercialization of niche prescription medications in the respiratory arena, today announced it has signed a co-promotion agreement with SJ Pharmaceuticals (SJP). This agreement names SJP as a partner in the promotion of Spectracef®, a broad spectrum, third-generation cephalosporin.
Essentially, when a patient is diagnosed with a bacterial infection, Spectracef® is used to help the body fight off pathogens. It is an oral antibiotic used to treat such things as Community-Acquired Pneumonia (CAP), Acute Bacterial Exacerbation of Chronic Bronchitis (ABECB), Pharyngitis/Tonsillitis, and Uncomplicated Skin and Skin-Structure Infections (USSSI). Spectracef®, a part of the major therapeutic category of antibiotics, will be beneficial to most primary care physicians as the discovery and development of new antibiotics becomes more valuable in the medical field.
Cornerstone obtained exclusive U.S. licensing rights for Spectracef® from leading Japanese pharmaceutical company Meiji Seika Kaisha in October 2006 and began promotion through their sales force shortly thereafter. Commencing immediately, the SJ Pharmaceuticals sales force will co-promote Spectracef®, significantly increasing awareness, promotional efforts and reach of the medication. The total worldwide market for antibiotic treatments was $25 billion in 2005, with $4.7 billion allocated to the respiratory antibiotic market. Cornerstone's new partnership with SJP represents expansion into the $1.5 billion U.S. oral solid cephalosporin market and will serve to increase the recognition of Spectacef® among healthcare providers.
Commenting on the agreement, SJ Pharmaceuticals President Terri Jackson Wade said, "Spectracef is a proven cephalosporin antibiotic with, we believe, untapped potential. The SJP sales team has tremendous depth in the respiratory category and the Southeast, and we are thrilled to be leveraging our credibility and expertise in this partnership with Cornerstone BioPharma."
\"SJP's experienced sales force is well entrenched in the market and will allow us to reach more healthcare providers. There is a strong need for antibiotic options in light of the resistance issues faced by today's healthcare community. With SJP's sales force, more practitioners will learn about Spectracef® as a highly potent option for respiratory and skin diseases,\" said Craig Collard, President and CEO of Cornerstone BioPharma.
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About Cornerstone 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 SJ Pharmaceuticals SJ Pharmaceuticals, LLC (www.sjpharma.com), is a dynamic family business committed to the development and marketing of prescription pharmaceutical products. With products in the respiratory, urology, and cardiovascular therapeutic categories, SJP actively seeks to advance treatment options for providers and their patients through the commercialization of innovative yet practical pharmaceutical products. SJP continues to build on its 30 plus year heritage as it cultivates a premier sales and marketing organization.
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