Cornerstone Therapeutics, a Cary drug developer, said today it has completed its transition from the primary care market to focusing on respiratory medications for the niche hospital market.
Cornerstone has been selling off non-core assets and acquiring businesses that fit the new business plan launched last June. The company has divested itself of two antibiotics, Factive and Spectracef, as part of a strategy to cut expenses and improve profits.
Cornerstone was created in 2008 when Cary's Cornerstone BioPharma acquired a Boston biotechnology company, Critical Therapeutics. The company has 116 employees, down from 147 a year ago.
"In 2011, we continued to execute upon our strategic plan by focusing on our strategic products within the hospital, niche respiratory and related specialty markets," Cornerstone CEO Craig Collard said in a press release.