NASHVILLE, TN — Cumberland Pharmaceuticals, a Nashville-based pharmaceuticals company, released the 2020 sustainability report without any FDA issues and product recalls.
Cumberland is committed to maintaining best and ethical practices while paying attention to environmental, social, and governance (ESG) issues at the same time. The sustainability report also reveals that Cumberland supplied 2.5 million patient doses in 2020 without any glitch to practice good clinical standards.
"2020 was a challenging year and we are proud to have responded to the pandemic with a fast and coordinated approach to ensure the health and safety of our team. We were able to continue the delivery of our products while addressing the interests of our shareholders, employees, partners and community," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals.
Cumberland also implements a tracking system to eliminate counterfeit drugs cases. The company put serial identification to track the products properly.
Cumberland recently released a report regarding the effectiveness of Vibativ®, a medication for bacterial infections. According to the report, Vibativ® acts as an injectable antibiotic that helps patients improve their conditions, especially against bacterial pneumonia for the COVID-19-patients.
Aside from the pharmaceuticals products, Cumberland also develops a pipeline project called Cumberland Emerging Technologies (CET). Cumberland, Vanderbilt University, and the state of Tennessee established the pipeline as a joint project to cultivate more innovations and research in the industry.
The company released the full year 2020 financial results, highlighting a $37.4 million net revenue. Cumberland reported an 8.9% increase in net revenues compared with the results in 2019.
Cumberland recently promoted John Hamm, former director of corporate development, to director of finance & accounting and chief financial officer. He handles Cumberland's business development, alliance management, and legal activities.
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