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Cumberland Pharmaceuticals Announces Pricing of Its Initial Public Offering of Common Stock
Date:8/10/2009

NASHVILLE, Tenn., Aug. 10 /PRNewswire-FirstCall/ -- Cumberland Pharmaceuticals Inc. announced today the pricing of its initial public offering of 5,000,000 shares of the Company's common stock at a price to the public of $17.00 per share, raising $85.0 million in gross proceeds. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the initial public offering price to cover any over-allotments. The common stock is expected to begin trading on the NASDAQ Global Select Market on August 11, 2009 under the trading symbol "CPIX".

Net proceeds to the Company are expected to be approximately $75.2 million after deducting underwriting discounts and commissions as well as offering expenses, and before exercise of any over-allotment option. Cumberland expects to use these proceeds primarily for potential acquisitions, the pending launch of the Company's Caldolor((R)) product, expansion of the Company's hospital sales force, product development, debt repayment and general corporate purposes.

UBS Investment Bank, Jefferies & Company, Inc. and Wells Fargo Securities are acting as book-running managers for the offering, and Morgan Joseph is acting as co-manager.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on August 10, 2009. This offering is being made only by means of a written prospectus. A copy of the final prospectus relating to the offering may be obtained from the prospectus department of UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, New York 10171.

Cumberland Pharmaceuticals Inc. is a Tennessee-based specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. The Company's primary target markets
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SOURCE Cumberland Pharmaceuticals Inc.
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