Apotex inks strategic transaction with Cumberland Pharma

Privately-held Canadian generic drugmaker Apotex and US specialty drug company Cumberland Pharmaceuticals (Nasdaq: CPIX) have entered into a strategic transaction to integrate Cumberland's US branded businesses into Apotex.

Under the terms of the agreement, Apotex will add a portfolio of branded medicines to its US business. The transaction is expected to significantly expand Apotex's US specialty and hospital focused business with a diversified basket of products across acute care, oncology, infectious disease, and gastroenterology. Closing of the transaction is subject to, among other things, the required approval of Cumberland's shareholders.