Cornerstone Therapeutics gives 2010 forecasts
CARY, N.C. (AP) — Cornerstone Therapeutics Inc. said Thursday it expects more than $112 million in revenue in 2010 due to greater sales of brand-name drugs, including two drugs it acquired last year.
The company expects net income of $600,000, or 2 cents per share, for the year. Excluding one-time items such as stock based compensation and amortization, it forecast a profit of $10.2 million, or 38 cents per share.
Cornerstone said more than 75 percent of its revenue will come from brand-name drugs, including the skin infection drug Spectracef, asthma treatment Zyflo CR, respiratory infection treatment Factive, and Curosurf, which treats respiratory distress syndrome in premature babies.
The company acquired Curosurf in July and Factive in September. It said it got about 40 percent of its revenue from branded products in 2008.