Cornerstone Therapeutics, EKR deal

Cornerstone will acquire EKR for $125 million in cash plus up to $25 million in milestones over the next three years. Cornerstone said the deal expands its product offerings and commercial infrastructure in the hospital market. EKR had $58 million in net revenue last year, primarily from sales of Cardene I.V. nicardipine. EKR markets the calcium ion flux inhibitor to treat hypertension.

EKR's board approved the deal, which is expected to close in June. The deal is expected to be accretive next quarter on a non-GAAP EPS basis. Stifel Nicolaus Weisel advised Cornerstone, while Lazard advised EKR. Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan acted as legal advisor to Cornerstone while Foley & Lardner advised EKR. ...