SOURCE: Cornerstone Therapeutics Inc.

Cornerstone Therapeutics Inc.

February 03, 2011 08:00 ET

Cornerstone Therapeutics Appoints Chief Financial Officer

CARY, NC--(Marketwire - February 3, 2011) - Cornerstone Therapeutics Inc. (NASDAQ: CRTX), a specialty pharmaceutical company focused on acquiring, developing and commercializing proprietary products for the respiratory and related markets, today announced the appointment of Vincent Morgus as Executive Vice President, Finance and Chief Financial Officer, effective February 1, 2011. Mr. Morgus joins the Company's executive management team and will manage its finance function. He will report to Craig Collard, Cornerstone's President and Chief Executive Officer.

Mr. Morgus joins Cornerstone from Quintiles, where he has been Senior Vice President, Corporate Development since September 2003. He joined Quintiles in June 1994 and progressed through a variety of financial management positions within the Quintiles organization including Vice President, Finance of Quintiles Americas and Chief Financial Officer of Quintiles Informatics. Prior to working at Quintiles, Mr. Morgus held Controller positions at Q+E Software, Inc. and DaVinci Systems Corporation. Mr. Morgus started his career as an auditor for Arthur Andersen in Northern California. Mr. Morgus earned his Master's degree in Business Administration from the University of North Carolina's Kenan-Flagler Business School and his Bachelor of Science from the Pennsylvania State University's Smeal College of Business.

"Vince has an outstanding track record in both finance and strategic business development areas, and we are pleased to welcome him to Cornerstone," said Mr. Collard. "We expect Vince's strong finance and transactional experience at Quintiles to be an invaluable asset to us as we execute on our business plan and expand our product portfolio through strategic licensing and product acquisition transactions."

About Cornerstone Therapeutics
Cornerstone Therapeutics Inc. (NASDAQ: CRTX), headquartered in Cary, N.C., is a specialty pharmaceutical company focused on acquiring, developing and commercializing products primarily for the respiratory and related markets. The Company currently promotes multiple marketed products in the United States to respiratory-focused physicians, key retail pharmacies and hospitals with its specialty sales forces. The Company also has a late-stage pipeline with a recent regulatory submission filing. Key elements of the Company's strategy are to pursue acquisition or licensing transactions to acquire the rights to patent-protected, branded respiratory or related pharmaceutical products, or late-stage product candidates; to 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; to grow product revenue through the Company's specialty sales forces; and to maintain and strengthen the intellectual property position of the Company's currently marketed products, newly acquired products and product candidates.

Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein, other than statements of historical fact, including statements regarding the progress and timing of our product development programs and related trials, our strategy and our future operations and opportunities, constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the results of preclinical studies and clinical trials with respect to our products under development, our ability to satisfy FDA and other regulatory requirements, our ability to enter into strategic licensing, product acquisition, collaboration or co-promotion transactions on favorable terms, if at all, and the other factors described in Item 1A (Risk Factors) of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on March 4, 2010 and in our subsequent filings with the SEC. In addition, the statements in this press release reflect our expectations and beliefs as of the date of this release, should not be relied upon as representing our views as of any other date and do not reflect the potential impact of any acquisitions, mergers, dispositions, business development transactions, joint ventures or investments that we may make or enter into. We anticipate that subsequent events and developments will cause our expectations and beliefs to change. However, while we may elect to update these forward-looking statements publicly at some point in the future, we specifically disclaim any obligation to do so, whether as a result of new information, future events or otherwise.

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