CUMBERLAND PHARMACEUTICALS REPORTS 17% REVENUE GROWTH FOR FULL YEAR 2022.

NASHVILLE, Tenn: Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company today announced full year 2022 financial results and provided a Company update. Net revenues grew 17% over the prior year to $42 million, resulting in $8 million in cash flow from operations.

As of December 31, 2022, the Company's total assets were $93 million, including $20 million in cash. Total liabilities were $57 million and total shareholders' equity was $36 million.

"We were able to manage our business in 2022 to deliver significant revenue growth despite facing external challenges in our operating environment," said A.J. Kazimi, Cumberland Pharmaceuticals CEO. "We were delighted to add and begin providing Sancuso(r) in support of oncology patients, as we further expanded our portfolio of FDA-approved brands."

HIGHLIGHTS FOR THE YEAR INCLUDE:

New Headquarter Office Location

In the fourth quarter of 2022, Cumberland relocated its headquarters to the Broadwest campus in the Vanderbilt/West End corridor of Nashville. The new, state-of-the-art headquarters keeps the Company close to Vanderbilt University Medical Center, enabling their continued collaboration as Cumberland works to develop new medicines for the future.

The move also allows Cumberland to accommodate recent and future growth. Following the relocation, Cumberland expects to expand its organization to over 100 individuals, with a majority working from the Nashville headquarters. The move will help to support the Cumberland team, its patients, customers and partners.

2022 Sustainability Metrics

Cumberland continues to monitor and report on its activities and impact on the environmental, its employees and the community. The Company's key sustainability metrics for 2022 include:

Providing 2.2 million doses of products to patients

Safely disposing of over 2,750 pounds of expired or damaged products

No products recalled or clinical trial terminated due for not practicing good clinical standards.

Sancuso(r) Acquisition

During 2022, Cumberland acquired and successfully completed the transition of Sancuso(r) from Japan-based Kyowa Kirin, Inc. - assuming responsibility for the brand's sales, distribution and promotion in the U.S. Sancuso is an FDA-approved prescription patch that prevents nausea and vomiting in patients undergoing certain types of chemotherapy.

To promote and support Sancuso, Cumberland formed a new sales division, Cumberland Oncology, comprised of former Kyowa Kirin...

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