Under the terms of the agreement, SOHO receives an exclusive license to Caldolor for the Indonesian market. SOHO will be responsible for seeking regulatory approval, ongoing regulatory reporting, product marketing, distribution and sales in the territory following approval. Cumberland maintains responsibility for the intellectual property, product formulation, manufacturing and other supported activities. In exchange for the license to the product, Cumberland will receive upfront and milestone licensing payments, as well as transfer prices on future sales of the drug.
"We are delighted to partner with SOHO to introduce our product in
While Cumberland focuses its proprietary commercial efforts on
"There is a significant and growing body of research that supports the safety and efficacy of Caldolor," said
Following regulatory approval, SOHO will use its existing sales force to promote Caldolor throughout
Caldolor is indicated for the management of mild to moderate pain and management of moderate to severe pain as an adjunct to opioid analgesics, and for the reduction of fever in adults. It is the first
The corporation consists of 3 synergy business under
They focus on manufacturing - including under-licensed - herbal products (immunomodulator, antioxidant, anti diarrhea, anti laxantia) and synthetic products (antibiotic, cephalosporin, injection preparation, antiemetic, analgesic, musculoskeletal, vitamin, obgyn, gastro, neuro, and rheumatology products). SOHO distributes pharmaceutical and healthcare products for their companies, and other pharmaceutical and consumer goods manufacturers. For more information, please visit www.sohogroup.com.
About Cumberland Pharmaceuticals
Cumberland Pharmaceuticals Inc. is a Tennessee-based specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. The Company's primary target markets include hospital acute care and gastroenterology. Cumberland's product portfolio includes Acetadote® (acetylcysteine) Injection for the treatment of acetaminophen poisoning; Caldolor® (ibuprofen) Injection, the first injectable treatment for pain and fever available in the
Important Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that reflect Cumberland's current views with respect to future events, based on what it believes are reasonable assumptions. No assurance can be given that these events will occur. As with any business, all phases of operations are subject to influences outside of the Company's control. Risk factors that could materially affect results of operations include, among other things, market conditions, intense competition from existing and new products, an inability of manufacturers to produce Acetadote on a timely basis or a failure of manufacturers to comply with stringent regulations applicable to drug manufacturers, maintaining and building an effective sales and marketing infrastructure, government regulation, the possibility that patent rights may provide only limited protection from competition, and other factors related to the Company including those under the headings "Risk factors" and "Management's discussion and analysis of financial condition and results of operations" in Cumberland's Form 10-K filed with the SEC on March 11, 2011. There can be no assurance that the results or developments anticipated by Cumberland will be realized or, if realized, that they will have the expected effects. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Cumberland undertakes no obligation to release publicly any revisions to these statements to reflect events or circumstances after the date hereof.
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