Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX), a U.S. biopharmaceutical company, announces the closing on an agreement with subsidiary of Apotex Health Corp. (“Apotex”), the largest Canadian-based pharmaceutical company, to integrate their branded U.S. businesses. Under the terms of the agreement, Apotex has acquired Cumberland’s line of branded pharmaceuticals for cash consideration of $100 million funded at closing, which followed approval by Cumberland’s shareholders. Cumberland has retained its robust portfolio of innovative product candidates and its majority ownership position in Cumberland Emerging Technologies Inc.
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Source: https://www.prnewswire.com/news-releases/cumberland-pharmaceuticals-closes-strategic-transaction-with-apotex-302815453.html