Cumberland Pharmaceuticals, Inc. (CPIX)

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10:30AM Cumberland Pharma partners in Canada with Alveda Pharmaceuticals to commercialize Caldolor (CPIX) 10.84 +0.19 : Co announced it has entered into an exclusive agreement with Alveda Pharmaceuticals Inc. (Alveda Pharma), a Toronto-based specialty pharmaceutical company, for the commercialization of Caldolor Injection in Canada. Designed to treat pain and fever in the hospital setting, Caldolor was approved by the FDA and launched by Cumberland in the United States in 2009. According to the terms of the agreement, Alveda Pharma will seek Canadian regulatory approval for Caldolor and, upon approval, handle ongoing regulatory requirements as well as product marketing, distribution and sales throughout Canada. Cumberland will maintain responsibility for product formulation, development and manufacturing. In exchange for the license to the product, Cumberland will receive royalties on future sales of Caldolor in addition to upfront and milestone payments as well as a transfer price.