Cumberland closes $100M sale of branded products to Apotex; retains ifetroban pipeline

CUMBERLAND PHARMACEUTICALS INC

Sold Acetadote, Caldolor, Kristalose, Sancuso, Vaprisol, Vibativ for $100M cash.
Over 99% of shareholder votes supported the transaction.
Company retains ifetroban candidates for Duchenne, systemic sclerosis, IPF, cancer metastasis.
Terminated $5.3M Pinnacle Bank credit facility; repaid in full.
Pro forma shows ~$110M cash, no product revenue, net loss from continuing ops.

item 1.01 item 1.02 item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James L. Herman

Vice President Trade & Distribution and Corporate Compliance Officer

CPIX · CUMBERLAND PHARMACEUTICALS INC

Effective: 2026-07-31
Filed: July 1, 2026, 4:15 PM ET

Effective July 31, 2026, in connection with the closing of the Transaction, Chris T. Bitterman, Vice President Sales & Marketing, and James L. Herman, Vice President Trade & Distribution and Corporate Compliance Officer, will resign from the Company and will be hired by an affiliate of Apotex.

Departed

Chris T. Bitterman

Vice President Sales & Marketing

CPIX · CUMBERLAND PHARMACEUTICALS INC

Effective: 2026-07-31
Filed: July 1, 2026, 4:15 PM ET

Effective July 31, 2026, in connection with the closing of the Transaction, Chris T. Bitterman, Vice President Sales & Marketing, and James L. Herman, Vice President Trade & Distribution and Corporate Compliance Officer, will resign from the Company and will be hired by an affiliate of Apotex.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James L. Herman departed as Vice President Trade & Distribution and Corporate Compliance Officer at CUMBERLAND PHARMACEUTICALS INC.

Action: resign
Role: Vice President Trade & Distribution and Corporate Compliance Officer

Exact text from the filing

Effective July 31, 2026, in connection with the closing of the Transaction, Chris T. Bitterman, Vice President Sales & Marketing, and James L. Herman, Vice President Trade & Distribution and Corporate Compliance Officer, will resign from the Company and will be hired by an affiliate of Apotex.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Chris T. Bitterman departed as Vice President Sales & Marketing at CUMBERLAND PHARMACEUTICALS INC.

Action: resign
Role: Vice President Sales & Marketing

Exact text from the filing

Effective July 31, 2026, in connection with the closing of the Transaction, Chris T. Bitterman, Vice President Sales & Marketing, and James L. Herman, Vice President Trade & Distribution and Corporate Compliance Officer, will resign from the Company and will be hired by an affiliate of Apotex.

View on SEC.gov

CUMBERLAND PHARMACEUTICALS INC filing history →

Source: SEC EDGAR

accession 0001104659-26-079871

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