CUMBERLAND PHARMACEUTICALS REPORTS 2.4M PATIENT DOSES DELIVERED, NO PRODUCT RECALLS, NO FDA ISSUES IN 2021

Rhea-AI Summary

Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) has released its 2021 Sustainability Report, showcasing significant achievements in environmental, social, and governance initiatives. The company delivered 2.43 million patient doses and disposed of 6,200 pounds of expired goods without any product recalls or FDA-related issues. Cumberland invested $4,000 per employee in training, while maintaining a workforce composed of 44% women and 15% minorities. Additionally, the company supported patients by covering up to 60% of prescription costs for gastrointestinal products.

Positive

• Delivered 2.43 million patient doses in 2021.
• No product recalls or FDA MedWatch Safety Alerts.
• Invested $4,000 per employee in training and development.
• Workforce consists of 44% women and 15% minorities.
• Covered up to 60% of patient prescription costs for gastrointestinal products.

Negative

• None.

 The company's annual sustainability report highlights its continued focus on and commitment to environmental, social and governance issues

NASHVILLE, Tenn., Aug. 8, 2022 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company, today released its 2021 Sustainability Report detailing its activities regarding its involvement in environmental, social and governance matters.

"As the largest biopharmaceutical company founded and headquartered in the Mid-South, we understand the importance of recognizing and addressing our impact on the environment, our team members and the community," said Cumberland Pharmaceuticals' Sustainability Board Director Caroline Young. "We are proud to release our third annual sustainability report, and we remain committed to building on the positive actions we've taken in these areas."

As noted in the report, Cumberland provided 2.43 million patient doses of its products in 2021 and safely disposed of 6,200 pounds of expired and damaged goods, following strict waste guidelines.

Additionally, the company had no marketed product recalls, no marketed products listed on the FDA's MedWatch Safety Alerts for Human Medical Products and no marketed product issues identified by the FDA from its Adverse Event Reporting System. None of Cumberland's clinical trials were terminated due to failure to practice good clinical standards.

Throughout 2021, Cumberland invested an average of $4,000 per full-time employee in training and development, including continuing education programs, employee development initiatives and employee awards. Cumberland's workforce is 44% women – and 15% of its employees are minorities. The organization is also committed to giving back to its community. Through its philanthropic arm, Cumberland Pharmaceuticals Foundation, the company donated over $33,000 to non-profit organizations in 2021.

Cumberland is focused on providing prescription medications that improve the quality of care for patients and address poorly met medical needs. The company strives to create solutions that help reduce costs for healthcare providers and patients. In 2021, Cumberland covered up to 60% of patient prescription costs for its gastrointestinal products through its coupon program.

For more information and to view the company's 2021 Sustainability Report, please visit www.cumberlandpharma.com and navigate to corporate governance page within the investor relations section.

About Cumberland Pharmaceuticals

Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company focused on the delivery of high-quality, prescription brands designed to improve patient care. The company develops, acquires, and commercializes products for the hospital acute care, gastroenterology, rheumatology and oncology market segments. The company's portfolio includes eight FDA-approved brands.

The company also has a series of Phase II clinical programs underway evaluating its ifetroban product candidate in patients with cardiomyopathy associated with Duchenne Muscular Dystrophy, Systemic Sclerosis, and Aspirin-Exacerbated Respiratory Disease. More information can be found on the company's website at www.cumberlandpharma.com.

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SOURCE Cumberland Pharmaceuticals Inc.

FAQ

What did Cumberland Pharmaceuticals report in its 2021 Sustainability Report?

Cumberland Pharmaceuticals reported delivering 2.43 million patient doses and having no product recalls or FDA-related issues in its 2021 Sustainability Report.

How much did Cumberland Pharmaceuticals invest in employee training in 2021?

Cumberland Pharmaceuticals invested an average of $4,000 per full-time employee in training and development in 2021.

What percentage of Cumberland Pharmaceuticals' workforce is made up of women?

Cumberland Pharmaceuticals' workforce comprises 44% women.

How does Cumberland Pharmaceuticals support patient prescription costs?

Cumberland Pharmaceuticals covers up to 60% of patient prescription costs for its gastrointestinal products.

What is Cumberland Pharmaceuticals' stock symbol?

Cumberland Pharmaceuticals is traded under the stock symbol CPIX.