May 2026       

To Our Shareholders, Employees & Partners:      

We are off to a strong start in 2026, building on the momentum generated over the past year, while entering into a transformational agreement to position Cumberland for the next phase of our Company’s evolution.

We recently announced a Strategic Transaction with Apotex Inc. to integrate our branded U.S. commercial businesses. Under the terms of the agreement, Apotex will acquire our portfolio of FDA-approved brands for $100 million in cash consideration, subject to our shareholder’s approval. This transaction is designed to unlock value, support our commercial team and sharpen our focus on advancing our pipeline of differentiated product candidates designed to address unmet medical needs.

During the first quarter, our portfolio of FDA-approved brands delivered combined revenues of $9.1 million, which represented a 5% increase after removing the $3 million milestone payment last year associated with the approval of Vibativ® in China. At the end of the quarter, our balance sheet included $71 million in total assets, $11 million in cash, liabilities of $49.7 million and shareholders’ equity of $21.6 million.

We also continued to make meaningful progress across our clinical pipeline. In February, the FDA granted Fast Track Designation to our ifetroban candidate for the treatment of heart disease in patients with Duchenne muscular dystrophy (DMD). This designation is intended to accelerate the development and review of therapies addressing serious conditions with unmet medical needs. Importantly, it allows for more frequent FDA interaction, rolling data submissions and earlier guidance throughout the approval process. The program previously received both Orphan Drug and Rare Pediatric Disease designations from the FDA.

During the first quarter, we shared several developments for our product portfolio, including:

  • We initiated the national promotional campaign for Talicia®, our newest portfolio addition designed to treat the serious stomach infections associated with pylori bacteria.
  • We received FDA approval for an expanded indication for Caldolor® to include the management of postoperative pain. This update broadens Caldolor’s clinical utility and supports the continued shift toward non-opioid and opioid-sparing pain management approaches for the treatment of pain.
  • We announced the launch of the new Sancuso® website. The website is designed to provide health care professionals and patients with enhanced access to educational resources, clinical information and expert insights related to the prevention of chemotherapy-induced nausea and vomiting. The website also features the brand's key message: "Sancuso – the Difference between Life and Living."

We are entering a very exciting period for Cumberland. The planned integration of our commercial business with Apotex, along with continued advancement of our pipeline, is expected to position the Company for long-term growth and value creation.

I would like to thank our Cumberland team for their continued dedication to our mission of delivering unique products that improve the quality of patient care. We look forward to sharing further updates as the year progresses.

All the best,

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.