Cadence is focused on improving the lives of hospitalized patients.
“Our goal is to become a leading biopharmaceutical company focused on the development and commercialization of proprietary pharmaceuticals principally for use in the hospital setting,” Ted Schroeder, President and CEO of Cadence.
Cadence Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary products principally for use in the hospital setting.
U.S. hospitals accounted for approximately $52 billion or 14% of U.S. pharmaceutical sales in 2010, according to Wolters Kluwer Pharma Solutions, an independent marketing research firm. We believe pharmaceutical sales to acute care hospitals are highly concentrated among a relatively small number of large institutions – making it an underserved and compelling opportunity, especially for a biopharmaceutical company commercializing products directly through its own dedicated sales force.
In November 2010, the U.S. Food and Drug Administration granted marketing approval for OFIRMEV® (acetaminophen) injection, a proprietary intravenous formulation of acetaminophen for which we in-licensed exclusive rights for the U.S. and Canadian markets. We launched commercial sales of OFIRMEV in the U.S. in January 2011 through our direct sales force of highly qualified hospital sales specialists.