Cumberland Pharmaceuticals Signs Exclusive Licensing Agreement for China

Cumberland Pharmaceuticals Inc.

today announced it has entered into an exclusive agreement with China's Harbin Gloria Pharmaceuticals Co., Ltd. (SHE: 002437)for the commercialization of Acetadote® (acetylcysteine), its injectable drug used to treat acetaminophen overdose, and Caldolor® (ibuprofen) Injection, which is used to treat pain and fever in the hospital setting. The agreement will provide Harbin Gloria exclusive rights to register and commercialize both drugs in China. Under the terms of the agreement, Harbin Gloria is responsible for seeking regulatory approval for the two injectable products in China, and would handle ongoing regulatory reporting, product marketing, distribution and sales in the territory following approval. Cumberland maintains responsibility for the intellectual property, product formulation, development and other supporting activities. In exchange for the license to the product, Cumberland will receive upfront and milestone licensing payments, as well as royalties on future sales of both drugs.