Thursday, July 30, 2009

IPO candidate Cumberland Pharma

Yesterday, Nashville-based Cumberland Pharmaceuticals filed the 20th Amendment to its shelved two-year-old IPO filing with the SEC. With rumblings of the IPO mart coming back to life (e.g., Dollar Gen), Cumberland may soon stop vamping off-stage and let loose 5 million shares or more, by which it hopes to net about $89 million-plus. The company's net income in 2008 was $4.8 million, on revenue of $35.1 million. The raise, if and when, would provide capital for beefing-up its sales ranks, acquisitions, product development, and commercial introduction of Caldolor, which is Cumberland's IV formulation of ibuprofen. It can market the product in the U.S. In Canada and Australia, third parties are pursuing regulatory and licensing approval. That's Cumberland CEO A. J. Kazimi, at left.

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