In the transaction, Cornerstone BioPharma will transfer the Humibid family of products, including over-the-counter (OTC) medications and prescription strength products to Adams Laboratories. In exchange, Adams Laboratories will transfer the AlleRx family of prescription respiratory medications to Cornerstone BioPharma.
Cornerstone BioPharma’s national sales force will promote the AlleRx product line for the temporary relief of symptoms associated with allergic rhinitis, vasomotor rhinitis, sinusitis, and the common cold. Currently, the US allergy market exceeds $3.3 billion in annual sales, as more than 50 million Americans suffer from allergy symptoms.
“This relationship presents a significant opportunity for both companies, as both the Humibid and AlleRx product lines meet the therapeutic and strategic focus of each organization,” stated Craig Collard, CEO of Cornerstone BioPharma. “We are extremely excited to enter into this relationship.”