The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: biopharma

Cumberland Ends Bio IPO Drought But Prices Under Range. Next Up, Emdeon.

Cumberland Pharmaceuticals (NASDAQ: CPIX) raised $85 million in its IPO today, pricing at $17 per share.  This was less than the $19-21 per share range, but since it’s the first bio IPO since November 2007 we won’t complain.

The company is planning to use the proceeds to buy late-stage or approved therapies for acute care and gastroenterology to go along with their existing approved products – Caldolor, an IV form of ibuprofen, and Acetadote, which treats acetaminophen overdose.

The WSJ Health Blog notes that Cumberland is the first of two planned healthcare IPOs this week.  Stay tuned for Emdeon, an electronic medical-billing systems company that is looking for over $330 million tomorrow.

Follow

Get every new post delivered to your Inbox.

Join 126 other followers