US biopharmaceutical company Cumberland Pharmaceuticals Inc (Nasdaq: CPIX) announced on Wednesday that it has completed a USD100m transaction with Apotex, a subsidiary of Canadian-based pharmaceutical company Apotex Health Corp, under which Apotex has acquired the company's branded US pharmaceutical portfolio following shareholder approval.

The company said the divestment allows it to concentrate resources on its rare disease pipeline, while retaining its investigational assets and majority ownership of Cumberland Emerging Technologies Inc.

Cumberland is advancing its lead candidate ifetroban across multiple Phase II programmes, including cardiomyopathy associated with Duchenne muscular dystrophy, systemic sclerosis, idiopathic pulmonary fibrosis and cancer metastasis. The programmes span rare, progressive and serious diseases, with several studies having already reported breakthrough or interim results.