Cornerstone BioPharma, Inc. and ASCEND Therapeutics Sign Co-Promotion Agreement
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 signed a co-promotion agreement with ASCEND Therapeutics (ASCEND). This agreement names ASCEND as a partner in the promotion of Balacet 325™, a mild-to-moderate pain medication.
CARY, NORTH CAROLINA (PRWEB) March 2, 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 signed a co-promotion agreement with ASCEND Therapeutics (ASCEND). This agreement names ASCEND as a partner in the promotion of Balacet 325™, a mild-to-moderate pain medication.
Balacet 325 was approved by the Food and Drug Administration in May 2005 and has since been promoted to pain specialists and primary care providers by Cornerstone’s sales force. Commencing immediately, the ASCEND sales force will co-promote Balacet 325 with a focus on obstetrics and gynecology healthcare providers. This partnership represents a significant expansion into the $14 billion U. S. pain market and will serve to increase the recognition of Balacet 325 among healthcare providers.
Commenting on the agreement, ASCEND CEO Jay Bua said, “Balacet 325 provides practical and safe treatment of mild-to-moderate pain, a common problem amongst patients who seek OB/GYN care. We are excited to have partnered with Cornerstone BioPharma to provide specialists in this area with a notable treatment option for reducing their patients’ pain.”
“We are confident in this strategic move for Balacet 325,” said Craig Collard, CEO of Cornerstone BioPharma, Inc. “It will not only increase Cornerstone’s reach and penetration in our current markets, but will provide the opportunity for us to expand into women’s health.”
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 ASCEND Therapeutics
ASCEND Therapeutics is a biopharmaceutical company focused on the use of transdermal drug delivery technology to overcome therapeutic barriers and raise the standard of care for certain chronic conditions. For more information about ASCEND, you may visit the company's web site at www. ascendtherapeutics. com.
###
