Cornerstone makes $125 million, plus, bid for EKR Thera

In a second acquisition move within a matter of months, USA-based specialty drugmaker Cornerstone Therapeutics has made a takeover bid for EKR Therapeutics, a privately-held specialty pharmaceutical company focused on the acute-care hospital setting.

Terms of the transaction, which is expected to close late June, include an initial $125 million in cash plus up to an additional $25 million in milestone payments over three years

The acquisition expands Cornerstone's product offerings and commercial infrastructure in the hospital market. The transaction is subject to customary closing conditions, including adoption of the merger agreement by EKR's stockholders and expiration or termination of any waiting period under US anti-trust laws. The transaction is currently expected to close in late June 2012.