Thursday, August 27, 2009
Cumberland Pharma, Medtronic updates
At Nashville-based Cumberland Pharmaceuticals, latest quarterly revenue's up 18 percent over year earlier, to $9.8MM, but net income is down, mainly due to Caldolor-related FDA- and marketing-related costs, and salesforce buildup. Analysts call is this morning. Today's release is here. VNC report on recent Cumberland IPO is here. The Memphis Daily News reports that notwithstanding the company's 38 percent slump in profits, Medtronic CEO Bill Hawkins stressed in an analysts call that the company's pipeline is full.