Friday, January 14, 2011

Cumberland Pharma Shares Soar On Acetadote's FDA Approval

Shares of Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX) surged as much as 27% on Friday, a day after the company announced that it has received approval from the U.S. Food and Drug Administration (FDA) for a new formulation of Acetadote(R) (acetylcysteine) Injection, the Company's product used to treat acetaminophen poisoning. The proprietary new formulation, which does not contain Ethylene diamine tetracetic acid or any other stabilization and chelating agents and is free of preservatives, will replace the currently marketed product. Cumberland is immediately commencing U.S. launch activities for this next generation Acetadote product and will no longer manufacture the previously approved formulation.

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