Cornerstone Therapeutics, Oscient deal

On July 13, Oscient filed Chapter 11 Bankruptcy and said it plans to sell to Cornerstone its assets related to Factive gemifloxacin mesylate. Oscient will receive $5 million, plus the value of its Factive inventory at the deal's close and is eligible for 15% royalties on Cornerstone's sales of Factive for five years. The deal is subject to approval by the bankruptcy court and the court's supervised solicitation of bids for Factive, which are expected to complete within 60 days.

Factive is a broad-spectrum fluoroquinolone antibiotic approved to treat acute bacterial exacerbations of chronic bronchitis (ABECB) and mild-to-moderate community-acquired pneumonia (CAP). ...