Navigation Links
Cumberland Pharmaceuticals Inks New Bank Financing Deal With Bank of America
Date:8/4/2011

NASHVILLE, Tenn., Aug. 4, 2011 /PRNewswire/ -- Cumberland Pharmaceuticals Inc. (Nasdaq: CPIX) today announced that it has executed a new senior credit agreement with Bank of America.  Pursuant to the new agreement, the Company has increased its revolving line of credit to $10 million, which is expandable to $20 million.  In addition, the maturity date for the new facility has been extended to December 2014.

The new bank agreement replaces Cumberland's previous financing arrangement with Bank of America, which was negotiated prior to the Company's initial public offering in 2009 and included a term loan and credit facility.  Cumberland recently completed principal payments on the term loan.

"We have enjoyed a long-standing relationship with Bank of America and appreciate its confidence in our Company as reflected by this expanded line of credit," said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals.

About Cumberland Pharmaceuticals

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 include hospital acute care and gastroenterology. Cumberland's marketed products include Acetadote® (acetylcysteine) Injection for the treatment of acetaminophen poisoning, Caldolor® (ibuprofen) Injection, the first injectable treatment for pain and fever approved in the United States, and Kristalose® (lactulose) for Oral Solution, a prescription laxative. Cumberland is dedicated to providing innovative products which improve quality of care for patients. For more information, please visit www.cumberlandpharma.com.

Forward Looking Statements

This document may contain forward-looking statements, which are subject to certain risks and reflect Cumberland's current views on future events based on what it believes are reasonable assumptions. No assurance can be given that these events will occur. As with any business, all phases of Cumberland's operations are subject to factors outside its control, and any one or combination of these factors could materially affect Cumberland's results of operations. These factors include market conditions, competition, an inability of manufacturers to produce Cumberland's products on a timely basis or a failure of manufacturers to comply with regulations applicable to pharmaceutical manufacturers, maintaining an effective sales and marketing infrastructure and other factors set forth under the headings "Risk factors" and "Management's discussion and analysis of financial condition and results of operations" in Cumberland's Form 10-K filed with the SEC on March 11, 2011. There can be no assurance that results anticipated by the Company will be realized or that they will have the expected effects. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to publicly revise these statements to reflect events after the date hereof.


'/>"/>
SOURCE Cumberland Pharmaceuticals Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Cumberland Pharmaceuticals to Announce Second Quarter 2011 Financial Results on August 4, 2011
2. Cumberland Pharmaceuticals to Present at the 2011 UBS Global Specialty Pharmaceuticals Conference in London
3. Cumberland Pharmaceuticals Reports First Quarter 2011 Financial Results
4. Cumberland Pharmaceuticals to Announce First Quarter 2011 Financial Results on May 4, 2011
5. Cumberland Pharmaceuticals Announces New Product Addition With Hepatoren™ (ifetroban) Injection
6. Cumberland Pharmaceuticals Appoints Rick S. Greene as Vice President, Finance & Accounting
7. Cumberland Pharmaceuticals Reports Fourth Quarter and Full Year 2010 Financial Results
8. Cumberland Pharmaceuticals Appoints Tan Cheow Choon as Director of International Business
9. Cumberland Pharmaceuticals to Announce 2010 Financial Results on March 8, 2011
10. Cumberland Pharmaceuticals Receives FDA Approval for New Formulation of Acetadote
11. Cumberland Pharmaceuticals Announces Joey Jacobs Has Joined Its Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... , Oct. 11, 2017  BioPharmX Corporation (NYSE MKT: ... that developed an innovative way to use nonlinear optical ... delivery of new drugs. ... Dermatology Conference will show how researchers from BioPharmX and ... Medical School used a suite of imaging techniques in ...
(Date:10/11/2017)... 11, 2017  Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: HRC), ... in Las Piedras, Puerto Rico , ... Following a ... sustained minor structural damage, temporary loss of power and ... been completed, manufacturing operations have resumed, and the company ...
(Date:10/7/2017)... 6, 2017   Provista, a proven leader ... billion in purchasing power, today announced a new resource ... The Newsroom is the online home for case ... expert bios, news releases, slideshows and events. ... wealth of resources at their fingertips, viewers can also ...
Breaking Medicine Technology:
(Date:10/13/2017)... Worth, TX (PRWEB) , ... October 13, 2017 ... ... financial planning agency serving communities in the greater Dallas, Miami, and Raleigh regions, ... young boy fighting to overcome a rare and deadly chromosome abnormality. , After ...
(Date:10/13/2017)... ... October 13, 2017 , ... The International Association of ... of excellence for the field of eating disorders, announces the opening of early ... in Orlando, Florida at the Omni Resort at ChampionsGate. , The ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance that covers care ... have a waiver for care if the client has a cognitive impairment diagnosis. ... for care, is often waived, so the benefits from their insurance start immediately,” said ...
(Date:10/13/2017)... ... 13, 2017 , ... Talented host, actor Rob Lowe, is ... a new episode of "Success Files," which is an award-winning educational program broadcasted ... each subject in-depth with passion and integrity. , Sciatica occurs when the sciatic ...
(Date:10/12/2017)... San Francisco, CA (PRWEB) , ... October 12, ... ... and Dr. Cheng, are now treating sleep apnea using cutting-edge Oventus ... sleep apnea, a serious sleep disorder characterized by frequent cessation in breathing. Oral ...
Breaking Medicine News(10 mins):