Cumberland Pharmaceuticals Inc. (NASDAQ: CPIX), a specialty pharmaceutical company, released its 2020 Sustainability Report, which details the company's activities pertaining to environmental, social and governance (ESG) matters.
"After issuing our inaugural ESG report last year, we remain committed to sustainability and to maintaining transparency of our corporate operations," said Cumberland Pharmaceuticals' ESG Board Director Caroline Young. "As the largest biopharmaceutical company founded and headquartered in the Mid-South, we hold ourselves to the highest standards of ethical practices and understand the importance of recognizing and addressing our impact on our constituents, the community and the environment."
The report states that in 2020 Cumberland provided nearly 2.5 million patient doses of its products, safely disposed of over 4,000 pounds of expired and damaged products and had no product recalls. The company also had no product listings on the FDA's MedWatch Safety Alerts for Human Medical Products, no products identified in the FDA Adverse Event Reporting System and no clinical trials terminated due to failure to practice good clinical standards.
"2020 was a challenging year and we are proud to have responded to the pandemic with a fast and coordinated approach to ensure the health and safety of our team. We were able to continue the delivery of our products, while addressing the interests of our shareholders, employees, partners and community," said A.J. Kazimi, chief executive officer of Cumberland Pharmaceuticals.
Cumberland is committed to delivering high-quality pharmaceutical products to improve patient care. The 2020 Sustainability Report notes that the company has implemented an initiative to serialize all commercial products sold in the United States, allowing it to track every unit distributed and prevent counterfeit drugs from entering the market under the Cumberland brand. The report also states that through its coupon program, Cumberland covers up to 90% of patient prescription costs for its gastrointestinal products.
Additionally, the report highlights the biopharmaceutical company's investment in its employees through its continuing education programs, employee development initiatives and employee awards. Cumberland's workforce is 46% women - and 18% of its employees are minorities.
For more information on how Cumberland is addressing topics of importance to its employees, investors and the communities it serves, please view Cumberland's 2020 Sustainability Report at www.cumberlandpharma.com on the Investor Relation section's Corporate Governance page.