Cornerstone Therapeutics, a Cary drug marketer, announced late Monday that it has acquired speciality pharmaceutical company EKR Therapeutics for $150 million.
Privately-held EKR, which makes products for providing acute-care in hospitals, had revenue of $58 million last year. Most of that revenue was generated from CARDENE IV, EKR's treatment for hypertension.
Cornerstone is paying $125 million in cash and $25 million in milestone payments over the next three years to acquire EKR.
Cornerstone recently completed its shift from selling drugs to doctors to focusing on the more profitable niche hospital market. In March, the company divested itself of two antibiotics, Factive and Spectracef, that were sold to doctors' offices.