Clinigen Group signs strategic alliance with Cumberland Pharmaceuticals
Partnership strengthens Clinigen's global footprint and gives Cumberland Pharmaceuticals access to new international markets
Clinigen Group plc ('Clinigen' or the 'Group', AIM: CLIN), the global pharmaceutical and services company, has agreed to a strategic alliance with Cumberland Pharmaceuticals Inc. ('Cumberland', NASDAQ: CPIX), a specialty pharmaceutical company focused on hospital acute care. The alliance will combine Clinigen's and Cumberland's respective strengths, expertise and geographical footprints to maximize the commercial potential of future products.
As part of Clinigen's continuing strategy to extend its global presence, this collaboration will build on Clinigen's existing North American relationships by providing complementary support from Cumberland in the development, marketing, promotion and distribution of future products in the US.
Clinigen will be responsible for the marketing, promotion, distribution and sale of selected Cumberland pharmaceutical products, enabling Cumberland to use Clinigen's strong international reach to enter in to new markets outside of the US.
Peter George, CEO of Clinigen Group plc, said:
"A key strategic initiative this year has been to develop our Group's global distribution footprint. The US is a particular area of focus where we are looking to initiate a long term strategic partnership and Cumberland was a natural fit as a partner. Working together is a logical move for both companies as we will mutually benefit from each other's distribution expertise and capabilities in our respective regions."
AJ Kazimi, Chairman and CEO of Cumberland, added:
"This alliance with Clinigen creates a new growth driver for both companies that builds on our strengths. We look forward to working closely with Clinigen to bring its future products to patients in the US through our established commercial infrastructure. In turn, our products will gain access to new markets in other parts of the world."
Clinigen is focused on delivering the right drug to the right patient at the right time by providing medicines to patients with high unmet needs through clinical trials, licensed and ethically unlicensed supply. As part of this it acquires and revitalizes essential niche medicines to ensure pharmacists and doctors can continue to use the treatments their patients rely on and the business is always looking for new products to develop the pipeline.
Cumberland Pharmaceuticals acquires, develops and commercializes branded prescription products designed to improve quality of care and address unmet medical needs. The company focuses on underserved niche markets in the US and currently markets five FDA approved products. These products include Acetadote® (acetylcysteine) injection for the treatment of acetaminophen poisoning and Vaprisol® (conivaptan) injection, for the treatment of hyponatremia. Cumberland also has a development pipeline with candidates in Phase II studies.
Clinigen Group plc
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Peter George, Group Chief Executive Officer
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About Clinigen Group
Clinigen Group is a global pharmaceutical and services company with a unique business model dedicated to delivering the right drug to the right patient at the right time. The Group consists of four synergistic businesses that provide medicines to patients with unmet medical need; through Clinigen CTS we manage the supply of commercial medicines for clinical trials, through Idis Managed Access we run early access programs for our own and other companies' portfolios, our Idis Global Access team works directly with healthcare providers to enable ethical compliant access to unlicensed medicines, and through Clinigen SP, we market our own portfolio of niche commercial products.
We are global leaders in ethically sourcing and supplying unlicensed medicines to hospital pharmacists and physicians for patients with a high unmet need.
For more information, please visit www.clinigengroup.com.
About Cumberland Pharmaceuticals
Cumberland Pharmaceuticals Inc. is a 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 five marketed products include Acetadote® (acetylcysteine) Injection for the treatment of acetaminophen poisoning, Caldolor® (ibuprofen) Injection, for the treatment of pain and fever, Kristalose® (lactulose) for Oral Solution, a prescription laxative, Vaprisol® (conivaptan) Injection, for the treatment of hyponatremia and Omeclamox-Pak® for the treatment of H. pylori infection and duodenal ulcer disease. Cumberland is developing Hepatoren® (ifetroban) Injection for the treatment of Hepatorenal Syndrome and Boxaban® (ifetroban) Oral Capsule for the treatment of Aspirin-Exacerbated Respiratory Disease. Cumberland is dedicated to providing innovative products that improve quality of care for patients.
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.
This announcement contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Clinigen Group plc ("Clinigen"). These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Clinigen undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.