March 2026

To Our Shareholders, Employees & Partners:                   

2025 was an outstanding year for Cumberland!

We announced breakthrough clinical study results, reported strong financial performance, expanded our global reach, and added to our commercial portfolio  — highlighting a year of consistent progress for our Company!

Most importantly, we did so while remaining focused on our mission of delivering unique products to improve the quality of patient care.

Our portfolio of FDA-approved brands delivered combined revenues of $13.7 million during the fourth quarter of 2025, which represent 31% growth over the prior year period. For the full year revenues totaled $44.5 million, resulting adjusted earnings of $1.7 million, with ~$5 million in cashflow from operations.

We delivered a profitability turnaround in 2025, with a $2.7 million improvement in adjusted earnings. We also strengthened our balance sheet, increasing shareholder equity and reducing the balance on our line of credit by over $10 million.

In addition to the strong financial performance, 2025 was a pivotal year for our international expansion efforts: 

  • Our Vibativ® product was approved in China, the world’s second-largest pharmaceutical market.
  • Vibativ was also launched in Saudi Arabia, resulting initial sales and patient treatments in that country,
  • Our ibuprofen injection product received approval in Mexico.

During the year, we continued to build our portfolio of FDA approved branded pharmaceuticals. We added Talicia®, expanding our presence in gastrointestinal care with a leading treatment for stomach infections associated with H. pylori infection. Talicia complements our existing brands and aligns with our strategy of acquiring the rights to differentiated products with established clinical value and long-term growth potential. 

We were also pleased to see the Centers for Medicare & Medicaid Services (CMS) issue a permanent J-Code for Caldolor®. This important reimbursement milestone enhances access, simplifies hospital billing and further supports Caldolor’s role as a standard of care for pain and fever management. 

Our development pipeline continued to advance in 2025, highlighted by the release of breakthrough data from our Duchenne muscular dystrophy (DMD) clinical program. We made meaningful progress in our ongoing efforts with the FDA regarding our DMD program, resulting in Orphan Drug, Rare Pediatric Disease and then Fast Track designations.  

We also continued to advance additional studies across our broader pipeline. All these development efforts reinforce our commitment to developing medicines for the future through new therapies designed for patients with serious and underserved medical needs. 

The accomplishments of 2025 reflect the dedication and expertise of our team. As we enter 2026, Cumberland is well positioned with a stronger financial foundation, an expanding global footprint, a growing portfolio and a promising pipeline. We look forward to building on this momentum.

AJ's Initials

Please see our corporate website at www.cumberlandpharma.com for links to our product websites for full prescribing and safety information on our brands and for our SEC filings that contain the risk factors associated with our business.