Cornerstone Therapeutics has acquired the U.S. rights to another cystic fibrosis drug that has been approved by the Food and Drug Administration.
Cornerstone acquired the U.S. rights to Pertzye from Digestive Care. The drug is a type of pancreatic enzyme replacement therapy, which Cornerstone says about 90 percent of all cystic fibrosis receive at some point.
Cary-based Cornerstone said the drug complements another drug, Bethkis, which the company acquired the U.S. rights to in November. Bethkis is an inhaled treatment for cystic fibrosis patients whose lungs have been invaded by bacteria that can trigger infections.
Pancreatic enzyme replacement therapy products had net sales of about $200 million for treatment of cystic fibrosis last year, according to Cornerstone. CEO Craig Collard said in a statement the company expects that number to grow significantly.
Cornerstone also announced Thursday that its net revenue increased 71 percent in the first quarter to $38 million.
Net income for the quarter was $2.4 million, or 9 cents per diluted share, compared to a net loss of $1.8 million, or 7 cents per diluted share, the first quarter of 2012.
Cornerstone saw increased revenue from its Zyflo asthma products as well as Curosurf, which treats a lung ailment that afflicts premature infants.
The company also recorded $13.8 million in sales of the hypertension drug Cardene IV, which it acquired the rights to in June.