CARY, N.C., July 20 /PRNewswire-FirstCall/ -- Cornerstone Therapeutics Inc. (Nasdaq CM: CRTX), a specialty pharmaceutical company focused on acquiring, developing and commercializing products primarily for the respiratory and related markets, announced today that David Price, Executive Vice President, Finance, and Chief Financial Officer, has been named Triangle Business Journal's CFO of the Year in the Small Public Business category. Award recipients were recognized at the inaugural Triangle Business Journal's CFO of the Year Awards Luncheon held in Cary on July 14, 2009.
"David is very deserving of this award and we congratulate him on this honor," said Cornerstone's President and CEO, Craig Collard. "Cornerstone has achieved tremendous growth in recent months and David has played a critical role in shaping the direction of the Company. He has displayed a level of commitment and financial leadership unmatched by most."
Mr. Price joined Cornerstone Therapeutics as Executive Vice President, Finance, and Chief Financial Officer, in September 2008, just prior to the completion of the reverse merger between Critical Therapeutics, Inc. and Cornerstone BioPharma, Inc., a transaction he helped facilitate as managing director at Jefferies & Company, Inc. In addition, Mr. Price was instrumental in finalizing Cornerstone's recently announced agreement with Chiesi Farmaceutici, SpA, a leading European pharmaceutical company headquartered in Parma, Italy, that resulted in a $70 million transaction and Cornerstone's receipt of an exclusive 10-year license for the U.S. commercial rights to Curosurf(R), the world leading treatment approved by the U.S. Food and Drug Administration for Respiratory Distress Syndrome in premature infants.
Mr. Price has more than 25 years of international experience working for leading accounting and investment firms, including Jefferies & Company, Bear, Stearns & Co. and Price Waterhouse, as well as with Cornerstone Therapeutics. He holds an Honors degree in Accounting and Financial Management from Lancaster University in Lancaster, UK. Mr. Price is a Qualified Charter Accountant and a member of the Institute of Chartered Accountants in England and Wales.
About Cornerstone Therapeutics
Cornerstone Therapeutics Inc. (Nasdaq CM: CRTX), headquartered in Cary, N.C., is a specialty pharmaceutical company focused on acquiring, developing and commercializing significant products primarily for the respiratory and related markets. The Company currently promotes multiple marketed products in the United States to respiratory-focused physicians and key retail pharmacies with its specialty sales force. The Company also has a late-stage clinical pipeline with five regulatory approval submissions targeted within the next three years. Key elements of the Company's strategy are to in-license or acquire rights to underpromoted, patent-protected, branded respiratory or related pharmaceutical products, or late-stage product candidates; implement life cycle management strategies to maximize the potential value and competitive position of the Company's currently marketed products, newly acquired products and product candidates that are currently in development; grow product revenue through the Company's specialty sales force which is focused on the respiratory and related markets; and maintain and strengthen the intellectual property position of the Company's currently marketed products, newly acquired products and product candidates.
Curosurf(R) is a registered trademark of Chiesi Farmaceutici, SpA.
|SOURCE Cornerstone Therapeutics Inc.|
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