NASHVILLE, Tenn., Oct. 12, 2011 Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company focused on hospital acute care and gastroenterology markets, today announced that Rick S. Greene, a long-time financial advisor to the Company, has been appointed Chief Financial Officer, effective Tuesday, October 18. He has served as Interim Vice President, Finance & Accounting since April of this year.
Mr. Greene has more than 20 years of experience in financial management and reporting. He previously served as Chief Financial Officer at Surgical Alliance Corporation, a specialty hospital company, and Director of Financial Operations at Phycor, Inc., a publicly-held physician management company. He also held positions at the national accounting firms Ernst & Young and Crowe Horwath.
Mr. Greene was the Market Leader for Crowe Horwath's Tennessee healthcare practice, where he developed and led a financial advisory team serving private equity firms, technology, pharmaceutical and other healthcare companies. Mr. Greene and his team supported Cumberland's accounting department in the preparation of the Company's Initial Public Offering, as well as Cumberland's ongoing financial statement preparation and SEC reporting.
"Rick is uniquely qualified to help drive growth and operational excellence at Cumberland," said A.J. Kazimi, Chief Executive Officer of Cumberland Pharmaceuticals. "In addition to a deep knowledge of our operations, he brings extensive experience in healthcare financial management and accounting that will be key to our Company's continued success."About Cumberland Pharmaceuticals Cumberland Pharmaceuticals Inc. is a specialty pharmaceutical company focused on the acquisition, development and commercialization of branded prescription products. The Company's primary target markets include hospital acute care and gastroenterology. Cumberland's product portfolio includes Acetadote® ( acetylcysteine) Injection for the treatment of acetaminophen poisoning, Caldolor® ( ibuprofen) Injection, the first injectable treatment for pain and fever approved in the United States, and Kristalose® ( lactulose) for Oral Solution, a prescription laxative. Cumberland is dedicated to providing innovative products that improve quality of care for patients. For more information on Cumberland, please visit the Company's website at www.cumberlandpharma.com. Forward-Looking Statements This press release contains forward-looking statements, which are subject to certain risks and reflect Cumberland's current views on future events based on what it believes are reasonable assumptions. No assurance can be given that these events will occur. As with any business, all phases of Cumberland's operations are subject to factors outside its control, and any one or combination of these factors could materially affect Cumberland's results of operations. These factors include market conditions, competition, an inability of manufacturers to produce Cumberland's products on a timely basis or a failure of manufacturers to comply with regulations applicable to pharmaceutical manufacturers, maintaining an effective sales and marketing infrastructure and other factors discussed in the Company's 2010 Annual Report on Form 10-K filed with the SEC on March 11, 2011. There can be no assurance that results anticipated by the Company will be realized or that they will have the expected effects. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to publicly revise these statements to reflect events after the date hereof. SOURCE Cumberland Pharmaceuticals Inc.