Cumberland Pharmaceuticals has signed a partnership with an 18-year-old Indian company to market its Caldolor injectable ibuprofen product.
The deal between Cumberland and Sandor Medicaids calls for the latter to seek regulatory approval for Caldolor in the world’s second-most populous country and then handle Caldolor’s distribution and sales there. Cumberland will receive upfront licensing and milestone payments, a transfer price and royalties on sales of Caldolor in India.
"We believe Caldolor can fill an unmet need in the hospital market in India, and look forward to communicating its benefits to the medical community here," said Rajeev Sindhi, managing director for Sandor, which runs 15 distribution centers across India. "Cumberland's strong clinical data and profile for use of the product should help facilitate regulatory approval and encourage widespread hospital use in our country."
Cumberland launched Caldolor a few years ago and rang up about $600,000 in sales through the first nine months of last year. The company has signed similar distribution agreements in China and Indonesia.
"We are very pleased to expand our network of international partners for Caldolor with this new agreement," said Cumberland CEO A.J. Kazimi. "Sandor has an established infrastructure to handle commercialization of hospital pharmaceutical products, and we look forward to working with them to make Caldolor available to a larger population of patients."
Shares of Cumberland (Ticker: CPIX) lost about 1 percent in Wednesday trading to close at $4.34. They’re also down slightly over the past three months.
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