Cumberland Pharmaceuticals and PT. SOHO Industri Pharmasi have signed an exclusive license agreement for Caldolor (ibuprofen) injection in Indonesia.
Caldolor (ibuprofen) Injection, which features analgesic, antipyretic and anti-inflammatory properties, is indicated for pain and fever in the hospital setting.
Cumberland Pharmaceuticals chief executive officer A.J. Kazimi said, "Expanding into new international markets is a key component of our growth strategy, and this partnership represents an important milestone in achieving that strategy and establishing a strong presence in Asia."
Under the agreement, PT. SOHO Industri Pharmasi is responsible for registration and commercialization of Caldolor injection in the region while Cumberland is responsible for intellectual property, product formulation, manufacturing activites.
Cumberland will earn an upfront and milestone licensing payments in addition to transfer prices on future sales of the drug.
SOHO Group president, director and CEO Marcus Pitt said, "There is a significant and growing body of research that supports the safety and efficacy of Caldolor."