Cumberland Pharmaceuticals will be introducing its popular post-surgical pain medication to the world's fourth most populated country.
The West End Avenue-based company has announced an exclusive licensing deal with PT. SOHO Industri Pharmasi, which is based in Jakarta, Indonesia, to commercialize Caldolor, an injectable form of ibuprofen used in post-surgical situations for patients with difficulty swallowing, 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, formulation and manufacturing.
In exchange for the license to the product, Cumberland will receive undisclosed upfront and milestone licensing payments as well as transfer prices on future sales of the drug.
"We are delighted to partner with SOHO to introduce our product in Indonesia and to help support the quality of care available to hospitalized patients in that country," A.J. Kazimi, Cumberland Pharmaceuticals chief executive officer, said in a release. "Expanding into new international markets is a key component of our growth strategy, and this partnership represents an important milestone in achieving that strategy and establishing a strong presence in Asia."
While Cumberland focuses its proprietary commercial efforts on the United States, the company has significantly expanded its international network of partners in recent years. Cumberland already had licensing deals for Caldolor in place in China, South Korea, Malaysia, the United Arab Emirates, Canada, Australia and New Zealand.
Following regulatory approval, SOHO will use its existing sales force to promote Caldolor throughout Indonesia.