Cumberland Pharma, PT. SOHO Industri Pharmasi Announce Licensing Deal for Caldolor in Indonesia
Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX) today announced it has entered into an exclusive agreement with Indonesia's PT. SOHO Industri Pharmasi (a SOHO Group company) for the registration and commercialization of Caldolor® (ibuprofen) Injection, which is used to treat pain and fever in the hospital setting.
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.
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