Cumberland Pharma Stock Rises After China Antibiotic Launch — Why Investors Are Watching
Cumberland Pharmaceuticals shares rose 21 cents to $6.15 after announcing the launch of its Vibativ antibiotic in China through SciClone Pharmaceuticals. The move follows last month’s $100 million deal to sell its U.S. branded portfolio to Apotex. Cumberland’s market value stood at about $92 million. Investors are watching for shareholder approval of the Apotex deal and demand for Vibativ in China.