Cumberland Pharmaceuticals Reports 2.5M Patient Doses Delivered, No Product Recalls, No FDA Issues in 2020

Rhea-AI Summary

Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) released its 2020 Sustainability Report, highlighting significant achievements in environmental, social, and governance (ESG) matters. The company safely delivered 2.5 million patient doses, managed over 4,000 pounds of expired products, and reported no product recalls or FDA safety issues. The report emphasizes Cumberland's commitment to sustainability, with initiatives like drug serialization to combat counterfeiting. The workforce comprises 46% women and 18% minorities, showcasing its focus on diversity and employee development.

Positive

• Delivered 2.5 million patient doses in 2020.
• No product recalls or FDA safety issues reported.
• Implemented serialization of products to prevent counterfeiting.
• Covers up to 90% of patient prescription costs for gastrointestinal products.
• Workforce diversity: 46% women and 18% minorities.

Negative

• None.

NASHVILLE, Tenn., July 26, 2021 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company, today released its 2020 Sustainability Report, which details the company's activities pertaining to environmental, social and governance (ESG) matters.

"After issuing our inaugural ESG report last year, we remain committed to sustainability and to maintaining transparency of our corporate operations," said Cumberland Pharmaceuticals' ESG Board Director Caroline Young. "As the largest biopharmaceutical company founded and headquartered in the Mid-South, we hold ourselves to the highest standards of ethical practices and understand the importance of recognizing and addressing our impact on our constituents, the community and the environment."

The report states that in 2020 Cumberland provided nearly 2.5 million patient doses of its products, safely disposed of over 4,000 pounds of expired and damaged products and had no product recalls. The company also had no product listings on the FDA's MedWatch Safety Alerts for Human Medical Products, no products identified in the FDA Adverse Event Reporting System and no clinical trials terminated due to failure to practice good clinical standards.

"2020 was a challenging year and we are proud to have responded to the pandemic with a fast and coordinated approach to ensure the health and safety of our team. We were able to continue the delivery of our products, while addressing the interests of our shareholders, employees, partners and community," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals.

Cumberland is committed to delivering high-quality pharmaceutical products to improve patient care. The 2020 Sustainability Report notes that the company has implemented an initiative to serialize all commercial products sold in the United States, allowing it to track every unit distributed and prevent counterfeit drugs from entering the market under the Cumberland brand. The report also states that through its coupon program, Cumberland covers up to 90% of patient prescription costs for its gastrointestinal products.

Additionally, the report highlights the biopharmaceutical company's investment in its employees through its continuing education programs, employee development initiatives and employee awards. Cumberland's workforce is 46% women – and 18% of its employees are minorities.

For more information on how Cumberland is addressing topics of importance to its employees, investors and the communities it serves, please view Cumberland's 2020 Sustainability Report at www.cumberlandpharma.com on the Investor Relation section's Corporate Governance page.

About Cumberland Pharmaceuticals
Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company focused on the delivery of high-quality prescription brands to improve patient care. The company develops, acquires, and commercializes brands for the hospital acute care, gastroenterology and rheumatoid arthritis market segments.

The company's portfolio of FDA-approved brands includes:

• Caldolor^® (ibuprofen) Injection, for the treatment of pain and fever;
• Kristalose^® (lactulose) for Oral Solution, a prescription laxative, for the treatment of chronic and acute constipation;
• Vibativ^® (telavancin) Injection, for the treatment of certain serious bacterial infections including hospital-acquired and ventilator-associated bacterial pneumonia, as well as complicated skin and skin structure infections;
• RediTrex^® (methotrexate) Injection, for the treatment of active rheumatoid, juvenile idiopathic and severe psoriatic arthritis, as well as disabling psoriasis.
• Vaprisol^® (conivaptan) Injection, to raise serum sodium levels in hospitalized patients with euvolemic and hypervolemic hyponatremia;
• Omeclamox^®-Pak, (omeprazole, clarithromycin, amoxicillin) for the treatment of Helicobacter pylori (H. pylori) infection and related duodenal ulcer disease;
• Acetadote^® (acetylcysteine) Injection, for the treatment of acetaminophen poisoning;

For more information on Cumberland's approved products, including full prescribing information, please visit the individual product websites, links to which can be found on the company's website www.cumberlandpharma.com.

Forward-Looking Statements
This press release contains forward-looking statements, which are subject to certain risks and reflect Cumberland's current views on 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 Cumberland's operations are subject to factors outside of its control, and any one or combination of these factors could materially affect Cumberland's results of operations. These factors include market conditions, competition, an inability of manufacturers to produce Cumberland's products on a timely basis or failure of manufacturers to comply with regulations applicable to pharmaceutical manufacturers, maintaining an effective sales and marketing infrastructure, natural disasters, public health epidemics, and other events beyond our control as more fully discussed in the Company's most recent Form 10-K and subsequent 10-Qs as filed with the SEC. There can be no assurance that results anticipated by the Company will be realized or 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. The Company does not undertake any obligation to publicly revise these statements to reflect events after the date hereof.

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SOURCE Cumberland Pharmaceuticals Inc.

FAQ

What key achievements did Cumberland Pharmaceuticals report in its 2020 Sustainability Report?

Cumberland Pharmaceuticals reported delivering 2.5 million patient doses, no product recalls, and no FDA safety issues.

How does Cumberland Pharmaceuticals address drug counterfeiting?

The company has implemented a serialization initiative for all commercial products sold in the U.S. to prevent counterfeit drugs.

What is the composition of Cumberland Pharmaceuticals' workforce?

Cumberland's workforce is composed of 46% women and 18% minorities.

What sustainability commitments has Cumberland Pharmaceuticals made?

Cumberland is committed to sustainability and transparency in operations, emphasizing its impact on the community and environment.