Pharma Or Biotech – Which Innovates Better?
This article was originally published in The Pink Sheet Daily
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In a creative deal that echoes the strategic tie-up last year between Infinity and Mundipharma, Italian giant Chiesi Farmaceutici is buying a majority stake in Cornerstone Therapeutics, which gets $15.5 million along with U.S. rights for 10 years to Chiesi's marketed lung surfactant Curosurf
With a would-be competitor from Discovery Labs stalled at FDA, approved lung surfactant Curosurf sits at the center of equity, cash tie-up.
Dividend cut also hurts shares, as the company continues its move toward the neurology space.