US-based Cornerstone Therapeutics has entered into an agreement to acquire the US marketing rights to Chiesi Farmaceutici's BETHKIS (Tobramycin Inhalation Solution), designed for the treatment of cystic fibrosis patients with Pseudomonas aeruginosa.
Under the agreement, Chiesi will receive an initial payment of $1m, a milestone payment of $2.5 m upon first commercial sale of the product and royalties based on a percentage of net sales.
Cornerstone chief executive officer Craig Collard said the availability of BETHKIS will provide another treatment option for patients with cystic fibrosis who face daily challenges and struggles.
"The FDA's approval of BETHKIS and our subsequent licensing agreement with Chiesi is another step forward in the execution of our strategic focus to be a trusted partner to the hospital and related specialty markets," Collard added.
"Currently, the only inhaled tobramycin choice for cystic fibrosis patients is Novartis' Tobi, which generated sales of approximately $290 million in 2011.
"We plan to launch BETHKIS® in the first half of 2013."
