Cumberland Pharmaceuticals Inc. (CPIX) Bundle
An Overview of Cumberland Pharmaceuticals Inc. (CPIX)
General Summary of Cumberland Pharmaceuticals Inc. (CPIX)
Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company that focuses on the acquisition, development, and commercialization of branded prescription pharmaceutical products. Founded in 1999, the company has concentrated its efforts on hospital acute care, gastroenterology, and oncology. As of 2024, Cumberland has six FDA-approved products available in the United States, including Kristalose, Sancuso, Vibativ, Caldolor, Acetadote, and Omeclamox-Pak. The company operates through a targeted sales force, promoting its products in hospitals and through partnerships internationally.
In 2024, Cumberland's total net revenues were reported at $27.4 million for the first nine months, reflecting a decrease compared to $30.2 million in the same period of the previous year. The company is dedicated to expanding its portfolio and enhancing patient care through innovative medical solutions.
Company's Financial Performance in the Latest Financial Reports
As of the third quarter of 2024, Cumberland Pharmaceuticals reported net revenues of $9.1 million, a decline from $10.1 million in the third quarter of 2023. The detailed revenue breakdown for the third quarter of 2024 is as follows:
| Product | Q3 2024 Revenue | Q3 2023 Revenue | Change |
|---|---|---|---|
| Kristalose | $3,632,258 | $3,887,476 | $(255,218) |
| Sancuso | $2,607,558 | $1,933,222 | $674,336 |
| Vibativ | $1,028,013 | $2,789,579 | $(1,761,566) |
| Caldolor | $1,271,252 | $1,155,509 | $115,743 |
| Acetadote | $21,374 | $120,052 | $(98,678) |
| Omeclamox-Pak | $(18) | $23,288 | $(23,306) |
| Vaprisol | $(135,765) | $0 | $(135,765) |
| RediTrex | $36,950 | $(122,556) | $159,506 |
| Other revenue | $624,204 | $299,356 | $324,848 |
| Total Net Revenues | $9,085,826 | $10,085,926 | $(1,000,100) |
Cumberland's operating loss for the third quarter of 2024 was $1.7 million, an improvement from the $1.9 million loss reported in the third quarter of 2023. The decrease in net revenues is primarily attributed to lower sales volumes of Vibativ and Acetadote, while Sancuso showed a significant increase in sales, contributing positively to the overall revenue.
Overall, the first nine months of 2024 saw total net revenues of $27.4 million, down from $30.2 million in the same period of 2023. The financial performance reflects challenges in product sales, particularly for Vibativ, which generated $5.1 million in revenue for the nine months ended September 30, 2024, down from $6.8 million in the prior year.
Introduction to Cumberland Pharmaceuticals as a Leader in the Industry
Cumberland Pharmaceuticals Inc. has positioned itself as a leader in the specialty pharmaceuticals sector by focusing on niche markets and developing unique products tailored for acute care settings. The company has established a robust pipeline and is active in pursuing collaborations and partnerships to expand its reach both domestically and internationally.
With a commitment to enhancing patient care through innovative solutions, Cumberland's strategic focus on branded pharmaceuticals allows it to address unmet medical needs effectively. The collaboration with international partners further strengthens its market presence and supports the distribution of its products in new regions. As of 2024, Cumberland continues to seek opportunities for growth and innovation in the pharmaceutical landscape, maintaining its status as a key player in the industry.
Mission Statement of Cumberland Pharmaceuticals Inc. (CPIX)
Mission Statement Overview
Cumberland Pharmaceuticals Inc. ("Cumberland") focuses on improving patient care through the development and commercialization of innovative pharmaceutical products. The company's mission statement emphasizes a commitment to providing unique products that enhance the quality of healthcare.
Core Component 1: Commitment to Patient Care
The first core component of Cumberland's mission statement revolves around its dedication to patient care. This commitment is reflected in the company's strategic focus on specialty pharmaceuticals that address significant medical needs, particularly in hospital acute care, gastroenterology, and oncology.
As of September 30, 2024, Cumberland reported net revenues of $27.4 million for the nine months ended, with specific contributions from key products:
| Product | Net Revenue (2024) | Net Revenue (2023) | Change |
|---|---|---|---|
| Kristalose | $10,935,702 | $12,313,321 | $(1,377,619) |
| Sancuso | $6,624,102 | $5,736,981 | $887,121 |
| Vibativ | $5,087,983 | $6,785,592 | $(1,697,609) |
| Caldolor | $3,586,199 | $3,316,866 | $269,333 |
| Acetadote | $144,973 | $440,071 | $(295,098) |
| Omeclamox-Pak | $(2,574) | $28,832 | $(31,406) |
| Vaprisol | $(128,684) | $39,866 | $(168,550) |
| RediTrex | $71,350 | $(254,108) | $325,458 |
| Other revenue | $1,113,325 | $1,792,020 | $(678,695) |
| Total Net Revenues | $27,432,376 | $30,199,441 | $(2,767,065) |
Core Component 2: Innovation in Pharmaceuticals
The second component emphasizes Cumberland's focus on innovation. The company actively seeks to develop and commercialize unique pharmaceutical products. This innovative approach is evident in its recent product launches and ongoing research initiatives.
For instance, Cumberland's investment in research and development totaled $3.5 million for the nine months ended September 30, 2024, down from $4.6 million in the previous year, indicating a strategic focus on prioritizing high-potential projects while managing costs effectively.
Core Component 3: Quality and Compliance
The final core component of the mission statement underscores the importance of delivering high-quality, compliant products. Cumberland adheres to stringent regulatory standards to ensure the safety and effectiveness of its pharmaceutical offerings.
As of September 30, 2024, Cumberland reported a net loss of $4.5 million for the nine months ended, attributed to increased costs and lower revenues from key products. This reflects the challenges in maintaining quality and compliance amid market fluctuations.
Moreover, the company has approximately $51.9 million in federal net operating loss carryforwards, which it expects to utilize to offset future tax liabilities, thereby supporting its ongoing commitment to quality and compliance.
Vision Statement of Cumberland Pharmaceuticals Inc. (CPIX)
Vision Statement Overview
The vision statement of Cumberland Pharmaceuticals Inc. (CPIX) as of 2024 emphasizes its commitment to enhancing patient care through innovative pharmaceutical solutions. The company aims to be a leader in the specialty pharmaceutical sector by focusing on the development and commercialization of branded prescription products.
Commitment to Innovation
Cumberland Pharmaceuticals is dedicated to continuous innovation in the pharmaceutical industry. This commitment is reflected in their ongoing research and development efforts and the introduction of new products to the market. For the nine months ended September 30, 2024, the company's research and development expenses were approximately $3.5 million, a decrease from $4.6 million in the same period the previous year .
Focus on Patient Care
At the core of Cumberland's vision is the goal of improving the quality of patient care. The company is dedicated to providing unique products that address critical health needs. For instance, their flagship products such as Kristalose generated $10.9 million in revenue during the first nine months of 2024 . This focus on patient-centered solutions underlines their operational strategies and product development.
Market Leadership in Specialty Pharmaceuticals
Cumberland Pharmaceuticals aims to be a leader in the specialty pharmaceutical market. Their strategic focus includes acquiring and developing branded prescription products that cater to specific medical specialties such as hospital acute care, gastroenterology, and oncology. The total net revenues for Cumberland for the nine months ended September 30, 2024, were reported at $27.4 million, compared to $30.2 million for the same period in 2023 .
Global Presence and Partnerships
The company's vision also encompasses expanding its global reach through strategic partnerships and collaborations. Cumberland has established a joint venture with WinHealth Investment (Singapore) Ltd to focus on biopharmaceuticals in Asian markets. This joint venture represents a financial commitment of $0.4 million from both parties . Such initiatives are aimed at enhancing their product distribution and availability worldwide.
Financial Performance and Growth Potential
Cumberland's financial performance in 2024 reflects its strategic vision. The operating loss for the nine months ended September 30, 2024, was approximately $4.6 million, indicating the challenges faced in a competitive market . However, the company continues to leverage its existing products and explore new opportunities to drive growth, including the development of new pharmaceutical candidates.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Total Net Revenues | $9,085,826 | $10,085,926 | $(1,000,100) |
| Research and Development Expenses | $1,306,095 | $1,924,768 | $(618,673) |
| Operating Loss | $(1,694,432) | $(1,866,603) | $172,171 |
| Net Loss | $(1,536,969) | $(1,063,219) | $(473,750) |
Conclusion of Vision Statement Elements
Cumberland Pharmaceuticals Inc.'s vision for 2024 centers on innovation, patient care, market leadership, global expansion, and financial growth. As the company navigates the complexities of the pharmaceutical landscape, its commitment to these core elements remains paramount in driving its strategic initiatives and operational decisions.
Core Values of Cumberland Pharmaceuticals Inc. (CPIX)
Integrity
The core value of integrity is fundamental to Cumberland Pharmaceuticals Inc. (CPIX). It emphasizes honesty, transparency, and accountability in all interactions with stakeholders, including employees, partners, and patients.
Cumberland demonstrates its commitment to integrity through rigorous compliance with regulatory standards and ethical business practices. For instance, the company adheres to the FDA guidelines in all its product developments and marketing strategies. In the nine months ended September 30, 2024, Cumberland reported a net loss of $4.54 million, emphasizing its transparency about financial performance and operational challenges.
Innovation
Innovation is a driving force behind Cumberland's mission to improve patient care. The company invests significantly in research and development to bring new therapies to market.
For example, Cumberland's research and development costs for the nine months ended September 30, 2024, amounted to $3.52 million, a decrease from $4.57 million in the previous year, indicating a focused approach to optimizing resources while continuing to innovate.
The company actively pursues opportunities to expand its product portfolio, evidenced by its acquisition of the oncology-supportive care medicine Sancuso, which further enhances its therapeutic offerings.
Collaboration
Collaboration is key to Cumberland’s strategy to leverage external expertise and resources. The company engages in partnerships with healthcare providers, research institutions, and other pharmaceutical companies to enhance its development and commercialization efforts.
In August 2020, Cumberland formed a joint venture with WinHealth Investment, focusing on biopharmaceutical development for Asian markets, which showcases its commitment to collaborative growth. Furthermore, the company reported $6.6 million in revenue from its Sancuso product for the nine months ended September 30, 2024, reflecting the success of collaborative marketing efforts.
Quality
Quality is at the heart of Cumberland’s operations, ensuring that all products meet the highest standards for safety and efficacy. The company employs a comprehensive quality control system that oversees manufacturing and distribution processes.
As of September 30, 2024, Cumberland maintained net inventories valued at approximately $16.34 million, reflecting its commitment to managing quality through effective inventory control. The company also reported a consistent cost of products sold at $4.61 million for the nine months ended September 30, 2024, indicating stable quality management practices.
Accountability
Accountability is a core value that drives Cumberland to take responsibility for its actions and decisions. The company ensures that all employees understand their roles and the impact of their work on overall business objectives.
Cumberland’s financial results for the nine months ended September 30, 2024, included a total net revenue of $27.43 million, with a clear reporting structure that holds management accountable for performance. The ongoing communication of financial outcomes and strategic decisions underscores the company's commitment to accountability at all levels.
| Core Value | Description | Example |
|---|---|---|
| Integrity | Commitment to honesty and transparency | Reported a net loss of $4.54 million |
| Innovation | Focus on R&D to enhance patient care | $3.52 million in R&D costs |
| Collaboration | Partnerships for growth and development | Joint venture with WinHealth Investment |
| Quality | High standards for product safety and efficacy | Net inventories of $16.34 million |
| Accountability | Responsibility for actions and decisions | Total net revenue of $27.43 million |
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Resources:
- Cumberland Pharmaceuticals Inc. (CPIX) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Cumberland Pharmaceuticals Inc. (CPIX)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Cumberland Pharmaceuticals Inc. (CPIX)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.