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<SEC-DOCUMENT>0000950144-07-005951.txt : 20090924
<SEC-HEADER>0000950144-07-005951.hdr.sgml : 20090924
<ACCEPTANCE-DATETIME>20070622175700
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950144-07-005951
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20070622

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CUMBERLAND PHARMACEUTICALS INC
		CENTRAL INDEX KEY:			0001087294
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2525 WEST END AVENUE
		STREET 2:		SUITE 950
		CITY:			NASHVILLE,
		STATE:			TN
		ZIP:			37203
		BUSINESS PHONE:		615-255-0068

	MAIL ADDRESS:	
		STREET 1:		2525 WEST END AVENUE
		STREET 2:		SUITE 950
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37203
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Cumberland Pharmaceuticals Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;A&#038;R Letterhead&#093;
</DIV>


<DIV align="left"><FONT size="1">

</FONT></DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">June&nbsp;22, 2007
</DIV>
<DIV align="left"><FONT size="1">

</FONT></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%"></TD>
    <TD width="2%"></TD>
    <TD width="95%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Attention:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mr. Jeffrey P. Riedler</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Assistant Director</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Re:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cumberland Pharmaceuticals Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form&nbsp;S-1 Registration Statement</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">File No.&nbsp;333-142535</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are responding to comments received in a letter dated June&nbsp;8, 2007 from Mr.&nbsp;Jeffrey P.
Riedler to Mr.&nbsp;A.J. Kazimi with respect to the Form S-1 Registration Statement of Cumberland
Pharmaceuticals Inc. filed on May&nbsp;1, 2007. For your convenience, we have repeated in bold type the
comments and requests for additional information exactly as set forth in Mr.&nbsp;Riedler&#146;s letter. On
the date hereof, we have filed Amendment No.&nbsp;1 to the Registration Statement reflecting all changes
discussed herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following paragraphs set forth the responses of Cumberland Pharmaceuticals Inc. to the
comments contained in Mr.&nbsp;Riedler&#146;s letter of June&nbsp;8, 2007. All page references below are to page
numbers in the Registration Statement, filed May&nbsp;1, 2007, except as otherwise set forth herein. For
your convenience, a marked copy of Amendment No.&nbsp;1, comparing Amendment No.&nbsp;1 to the Registration
Statement, is enclosed herewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Comments Applicable to the Entire Document</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note that your filing contains numerous omissions throughout the prospectus which relate
to the offering price range or the number of shares you will sell. These omissions include
but are not limited to:</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><B>&#149;</B></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Summary Financial Data</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B><B>&#149;</B></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>The Option Grants Table</B></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><B>&#149;</B></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Use of Proceeds</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B><B>&#149;</B></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Shares Eligible for Future Sale</B></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><B>&#149;</B></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Capitalization</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B><B>&#149;</B></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>The Principal Stockholders Table</B></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><B>&#149;</B></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Dilution</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B><B>&#149;</B></B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Description of Capital Stock</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>Rule&nbsp;430A requires you to include this information in your filing based upon an estimate of
the offering price within a bona fide range you disclose on the cover page</B></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 2

</DIV>

<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>and based upon an estimate of the number of shares you will sell. We consider a bona fide
range to be $2 if the price is under $20 and 10% if it is above $20.
You should
include the required information in an amendment prior to circulating a &#147;red herring&#148;
prospectus.</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will comply with this comment by filing an amendment containing all of the
information required by Rule&nbsp;430A at the time that the &#147;red herring&#148; prospectus is filed, and prior
to the road show.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Provide us with copies of all the graphic, photographic or artistic materials you intend to
include in the prospectus prior to its printing and use. Please note that we may have
comments. Please also note that all textual information in the graphic material should be
brief and comply with the plain English guidelines regarding jargon and technical language.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By separate cover, the Company is providing the Commission Staff copies of the graphic
materials that the Company proposes to include in the prospectus.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Comments on your application for confidential treatment will follow under separate cover. We
will not consider a request for acceleration of effectiveness of the registration statement
until any comments we may have on the application are resolved.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will await receipt of your comments regarding the Company&#146;s request for confidential
treatment of certain proprietary information.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please update your interim financial statements and related financial information as required
by Rule&nbsp;3-12 of Regulation&nbsp;S-X.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by updating the interim financial statements and
related financial information in Amendment No.&nbsp;1 to include financial statements as of March&nbsp;31,
2007 and covering the three months ended March&nbsp;31, 2006 and March&nbsp;31, 2007.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 3

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Prospectus Summary</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please disclose your accumulated deficit.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by inserting in the tables on pages 5 and 27 of the
Registration Statement (pages 5 and 30 of Amendment No. 1) an accumulated deficit line item as of March&nbsp;31, 2007 of $6,620,820.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise your statement that you expect Amelior to be the first injectable product
approved for pain and fever. You should not assume you will receive FDA approval. Similarly,
revise page 45.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the fourth full paragraph on page 1 and
substituting, in lieu thereof, a revised paragraph (page 1 of Amendment No.&nbsp;1). Corresponding
changes have been made on page 39 (page 47 of Amendment
No.&nbsp;1) and page 45 (page 53 of Amendment No. 1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please delete the statement that you believe Amelior is a safe and effective treatment.
Safety and efficacy is still being tested and are determinations made by the FDA.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the sentence as requested.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please provide third party support for your statement that NAC is accepted as the worldwide
standard of care for treating acetaminophen overdose.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In making this assertion, the Company is relying in part on an article, entitled &#147;An update of
<I>N</I>- acetylcysteine treatment for acute acetaminophen toxicity in children&#148; by Laurie Marzullo,
published by Lippincott Williams &#038; Wilkins, Curr Opin Pediatr 17:239-245, 2005. On page 240, Ms.
Marzullo states that &#147;The accepted antidote for ingestion of toxic levels of acetaminophen is <I>N</I>-
acetylcysteine (NAC), as published by Prescott <I>et al.&#148;</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is furnishing to the Commission Staff a copy of the article
by separate cover. Other articles support the Company&#146;s position that NAC is the protocol for
treatment of acetaminophen overdose. If the Commission Staff would like supplemental support for
this position, we would be happy to supply additional support at its request.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 4

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please provide your basis for your belief that you can continue to expand your market share
of Acetadote. Since Acetadote is the only intravenous formulation of N-acetylcysteine, how
are your defining the market?</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company defines the market for Acetadote to include users of both the intravenous
formulation and the oral formulation of N-acetylcysteine, or NAC. According to a survey by the
American Association of Poison Control Centers&#146; Toxic Exposure Surveillance System, approximately
66% of people treated with NAC in 2005 were given an oral formulation. This survey is not
comprehensive of total NAC use in the U.S. and the Company believes that oral NAC was used in an
even greater percent of cases nationwide during that year based on an internal analysis of oral NAC
sales from data provided by Wolters Kluwer. The Company believes that intravenously administered
Acetadote has clinical and financial benefits relative to orally administered NAC, including ease
of administration, minimizing nausea and vomiting associated with oral NAC, accurate dosage
control, shorter treatment protocol and reduction in overall cost of acetaminophen overdose
management, as discussed on page 47 of the Registration Statement
(page 55 of Amendment No. 1). The Company believes that Acetadote also offers significant
cost advantages to both patients and hospitals by reducing the treatment regimen, usually from
three days to one day. For these reasons, the Company feels that the use of Acetadote will
continue to grow as patients and hospitals increasingly favor Acetadote over orally administered
NAC.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>10.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note your discussion related to early-stage product candidates, please clarify what you
meant by &#147;early-stage.&#148; For example, do you mean are these products in pre-clinical trials,
Phase I trials, or have they not yet reached the pre-clinical trial stage?</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by amending the first sentence of the fourth full
paragraph on page 2 (page 2 of Amendment No.&nbsp;1). Additionally, the Company has complied with
this comment by amending similar language on page 40 (page 48 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Summary Consolidated Financial Data &#151; page 5</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>11.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please provide pro forma net income per share amounts for the most recent fiscal year and
interim period to give effect to the conversion of preferred stock into common stock. Please
refer to Rule&nbsp;11-</B><B>01(a)</B><B> of Regulation&nbsp;S-X.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 5

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by including pro forma net income per share
information in the table on page 5 (page 5 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Risk Factors &#151; page 6</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>12.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise the introductory paragraph to eliminate the reference to other unforeseen
risks. You should not caution against risks that are not identified and described.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by amending the introductory paragraph on page 6
(page 6 of Amendment No.&nbsp;1) to delete the third sentence.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>We currently market two products, Acedote and Kristalose. An adverse development regarding
either of these products could have a material and adverse impact on us. &#151; page 7</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>13.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>This discussion is too broad. Please revise this risk factor to more specifically identify
the types of changes that could have and adverse impact and the likely impact.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the existing risk factor and replacing
it with a revised risk factor on page 7 (page 7 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>14.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>If there have been any reports of adverse effects from these products, please specifically
identify them.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has complied with this comment by inserting a new
paragraph at the end of the risk
factor described in Comment No.&nbsp;13.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>If any manufacturer we rely on fails to produce our products and product candidates in the
amounts we require on a timely basis, or fails to comply with stringent regulations applicable to
pharmaceutical drug manufacturers, we may face delays in the commercialization of Amelior, or may
be unable to meet demand for the product supplied by the manufacturer and may lose potential
revenues. &#151; page 7</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>15.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Does your agreement with Bioniche allow you to obtain Acetadote from another source if they
are unable to supply sufficient quantities of Acetadote? If it does not,</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 6

</DIV>

<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>please revise the discussion to specifically state this information. Similarly, state
whether you can obtain Kristalose from any party other than Inalco.</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s agreement with Bioniche allows the Company to obtain Acetadote from another
source if Bioniche is unable to supply sufficient quantities of Acetadote. The Company&#146;s agreement
with Inalco does not expressly authorize the Company to obtain Kristalose from a party other than
Inalco if Inalco is unable to supply sufficient quantities of Kristalose. Accordingly, the Company
has complied with this comment by revising the language in the risk
factor on page 7 (page 8 of
Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Competitive pressures could reduce our revenues and profits. &#151; page 9</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>16.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise the risk factor to identify the two competing laxative products and their
manufacturers as well as the identity of the company developing the intravenous acetaminophen
product.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by revising the second paragraph of this risk
factor as set forth on page 9 (page 9 of Amendment No.&nbsp;1).
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Our future growth depends on our ability to identify and acquire rights to products. If we do
not successfully identify and acquire rights to products and successfully integrate them into our
operations, our growth opportunities would be limited. &#151; page 9</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>17.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In the last paragraph of this risk factor you indicate that you are not precluded from
engaging in a large acquisition in the future, including an acquisition that entails the
investment of substantially all of the proceeds from this offering. Please disclose whether
you are currently contemplating, discussing or negotiating an acquisition. If so, you should
provide appropriate disclosure in the relevant places in the prospectus, including the &#147;Use of
Proceeds&#148; section. If you do not have such plans, please state that you have no current
acquisition plans.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company advises the Commission Staff that while we continually screen and evaluate
potential acquisitions of product candidates, intellectual property
rights or companies that complement our business, we have no current
commitments or agreements for such acquisitions. The Company has
stated this on page 10 of Amendment No. 1.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>The size of our organization and our activities are growing, and we may experience difficulties
in managing growth. &#151; page 11</B></U>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 7

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>18.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>It is unclear whether the number of employees disclosed includes the sales staff you recently
acquired from Cardinal. Please clarify the disclosure.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by amending the first sentence of this risk factor
as set forth on page 11 (page 12 of Amendment No.&nbsp;1).
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Our strategy to secure and extend marketing exclusivity or patent rights may provide only
limited protection from competition. &#151; page 14</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>19. Please explain what the terms &#147;priority filing date&#148; and &#147;orphan drug&#148; mean.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by eliminating the reference to the technical term
&#147;priority filing date&#148; and has amended the third sentence
of the last paragraph on page 14 (page 15 of Amendment No.&nbsp;1) and has added an additional explanatory paragraph regarding orphan drug
designation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We refer the Commission Staff to the <B>Orphan Drug Designation </B>paragraph under the &#147;Business&#148;
section on page 57 (page 66 of Amendment No. 1) for a full explanation of orphan drug designation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>20. Please tell us you basis for market exclusivity for Amelior.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is basing its claim for market exclusivity for Amelior upon the Hatch-Waxman Act,
which provides three years of marketing exclusivity for the approval of new and supplemental NDAs,
including Section&nbsp;505(b)(2) NDAs, for, among other things, new indications, dosages or strengths of
an existing drug, if new clinical investigations that were conducted or sponsored by the applicant
are essential to the approval of the application. The Company explains this legal provision in
paragraph 1 on page 58 (page 66 of Amendment No. 1) entitled <B>The Hatch-Waxman Act </B>under the Business section of the Registration
Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Use of Proceeds &#151; page 23</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>21.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please expand the disclosure in this section to identify the amount of proceeds you intend to
spend on each identified purpose. Also, please be more specific about what the purposes are.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 8

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the second paragraph of the <B>Use of
proceeds </B>section on page 23 and replacing it with several
additional paragraphs (page 24 of
Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>22.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>You say that you may use a portion of the proceeds for product development and expansion.
Please identify the products you intend to develop with proceeds from this offering. Disclose
the amount of proceeds you intend to spend on development of each product and discuss how far
along in the development process the proceeds will take you. Disclose the amount of
additional funds you anticipate will be necessary to complete development and market the
product. If additional funds will be required disclose the source you anticipate obtaining
the funds from, as well as the timeframe involved in completing the development process.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby advises the Commission Staff that it intends to utilize approximately $4
million of the net proceeds for the continued clinical testing and product development of Amelior.
While the Company cannot predict with certainty the amounts required to be spent for this purpose,
the Company expects its existing capital resources and the net proceeds from this offering to be
sufficient to fund the completion of the clinical development programs of Amelior through
commercial introduction of the product to the U.S. market, assuming the Company&#146;s clinical programs
progress in accordance with its plans.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>23.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Disclose the amount of indebtedness you have and the amount you intend to repay using
proceeds from this offering. Also disclose the uses of the borrowed funds. Please refer to
the instructions to Item&nbsp;504 of Regulation&nbsp;S-K.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amount of the Company&#146;s indebtedness is set forth in the balance sheet tables throughout
the Registration Statement. As of March&nbsp;31, 2007, the aggregate principal due under the Company&#146;s
line of credit and term loan was $4,950,949. Currently, the Company does not intend to use the
proceeds of this offering to repay its indebtedness; therefore, the
Company believes disclosure in the <B>Use of proceeds</B>
section is not relevant.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>24.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>You indicate that you may use proceeds from this offering to finance acquisitions. Identify
the business or product you intend to acquire, if known, or if not known, the nature of the
business or other acquisitions to be sought, the status of any negotiations with respect to
the acquisition and a brief discussion of the business.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has complied with this comment by including a new second paragraph in the <B>Use of proceeds</B>
section of the Registration Statement (page 24 of Amendment
No.&nbsp;1).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 9

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>25.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please clarify whether you intend to use proceeds from this offering to pay the deferred
portion of the purchase price for Kristalose.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company currently does not intend to use proceeds from this offering to pay the deferred
portion of the purchase price for Kristalose.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Management&#146;s Discussion and Analysis &#151; page 28</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Critical Accounting Policies and Significant Judgments and Estimates</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Revenue Recognition, page 29</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>26.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We believe that your disclosure related to estimates that reduce gross revenue such as
chargebacks, discounts, rebates and product returns could be improved. Please revise your
disclosure and include the following:</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>a.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The nature and amount of each accrual at the balance sheet date and the
effect that could result from using other reasonably likely assumptions than what
you used to arrive at each accrual such as a range of reasonably likely amounts or
other type of sensitivity analysis.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>b.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The factors that you consider in estimating each accrual such as
historical return of products, levels of inventory in the distribution channel,
estimated remaining shelf life, price changes from competitors and introductions of
generics and/or new products.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comments No.&nbsp;26(a) and 26(b) by revising the section entitled
<I>Revenue Recognition </I>on page 29 of the Registration Statement
(pages 32-33 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>c.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>To the extent that information you consider in b) is quantifiable,
disclose both quantitative and qualitative information and discuss to what extent
information is from external sources, such as end-customer prescription demand,
third-party market research data comparing wholesaler inventory levels to
end-customer demand. For example, in discussing your estimate of product that may
be returned, explain, preferably by product and in tabular format, the total amount
of product in sales dollars that could potentially be returned as of the balance
sheet date and disaggregated by expiration period.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 10

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;26(c) by amending the section entitled <I>Revenue
Recognition </I>on page 29 of the Registration Statement (pages 32-33 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>d.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>If applicable, any shipments made as a result of incentives and/or in
excess of your customer&#146;s ordinary course of business inventory level. Disclose
your revenue recognition policy for such shipments.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;26(d) by amending the section entitled <I>Revenue
Recognition </I>on page 29 of the Registration Statement (pages 32-33 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>e.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>A roll forward of the accrual for each estimate for each period
presented showing the following:</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Beginning balance,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Current provision related to sales made in current period,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Current provision related to sales made in prior periods,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Actual returns or credits in current period related to sales made in current
period,</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Actual returns or credits in current period related to sales made in prior
periods, and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="9%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Ending balance.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company believes it has adequately addressed the information requested in its additional
disclosures for Comment No.&nbsp;26 (b) and (c).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>f.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Regarding your discussion of results of operations for the period to
period net sales comparisons, the amount of and reason for fluctuations for each
type of reduction of gross sales, i.e. product returns, rebates and discounts,
including the effect that changes in your estimates of these items had on your net
sales and operations.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;26(f) by revising the &#147;Net revenues&#148; discussion in
the <I>Management&#146;s discussion and analysis of financial condition and results of operations </I>section
entitled <I>Year ended December&nbsp;31, 2006 compared to year ended December&nbsp;31, 2005 </I>on page 33 of the
Registration Statement (page 39 of Amendment No.&nbsp;1).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 11

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Company has revised the &#147;Net revenues&#148; discussion in the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section of the section
entitled <I>Year ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 34 of the
Registration Statement (page 40 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Stock Based Compensation, page 30</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>27.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please disclose the approach used to determine your enterprise value at each grant date and
the method used to allocate enterprise value to the outstanding equity to determine the fair
value of the underlying common stock. Disclose whether or not the valuation used to determine
the fair value of the equity instruments was contemporaneous or retrospective.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;27 by amending the section entitled <I>Stock-Based
Compensation </I>on page 30 of the Registration Statement (page 34 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>28.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please expand your disclosure to clarify why you reviewed the historical volatility of
similar public companies to determine your expected volatility. Disclose the factors
considered to determine which public companies were similar. Tell us on a supplemental basis
the names of the similar public companies used to estimate expected volatility.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;28 by amending the section entitled <I>Stock-Based
Compensation on </I>page 30 of the Registration Statement (pages 34-35 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By separate cover, the Company is providing the Commission Staff the names of the public
companies it considers to be its peers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Results of Operations, page 32</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>General</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>29.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In certain areas of your disclosures, such as your discussion of net revenues, you make
references to specific factors that contributed to the change from period to period. Please
revise your disclosures to quantify each factor that resulted in significant increases or
decreases in financial statement line items. Refer to Financial Reporting Codification
Section&nbsp;501.04.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 12

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;29 by amending the &#147;Net revenues&#148; discussion in the
<I>Management&#146;s discussion and analysis of financial condition and results of operations </I>section
entitled <I>Year ended December&nbsp;31, 2006 compared to year ended December&nbsp;31, 2005 </I>on page 33 of the
Registration Statement (page 39 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;29 by amending the &#147;Cost of products sold&#148; paragraph
of the <I>Management&#146;s discussion and analysis of financial condition and results of operations</I>
section entitled <I>Year ended December&nbsp;31, 2006 compared to year ended December&nbsp;31, 2005 </I>on page 33
of the Registration Statement (page 39 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furthermore, the Company has complied with Comment No.&nbsp;29 by amending the &#147;Selling and
marketing&#148; paragraph of the <I>Management&#146;s discussion and analysis of financial condition and results
of operations </I>section entitled <I>Year ended December&nbsp;31, 2006 compared to year ended December&nbsp;31,
2005 </I>on page 33 of the Registration Statement (page 39 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has also amended the &#147;Research and development&#148; paragraph of the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section entitled <I>Year
ended December&nbsp;31, 2006 compared to year ended December&nbsp;31, 2005 </I>on page 33 of the Registration
Statement (page 39 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;General and administrative&#148; paragraph of the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section entitled <I>Year
ended December&nbsp;31, 2006 compared to year ended December&nbsp;31, 2005 </I>on page 33 of the Registration
Statement (pages 39-40 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Interest expense&#148; paragraph of the <I>Management&#146;s discussion and
analysis of financial condition and results of operations </I>section entitled <I>Year ended December&nbsp;31,
2006 compared to year ended December&nbsp;31, 2005 </I>on page 34 of
the Registration Statement (page 40
of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Net revenues&#148; paragraph of the <I>Management&#146;s discussion and
analysis of financial condition and results of operations </I>section entitled <I>Year ended December&nbsp;31,
2005 compared to year ended December&nbsp;31, 2004 </I>on page 34 of
the Registration Statement (page 40 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Cost of products sold&#148; paragraph of the <I>Management&#146;s discussion
and analysis of financial condition and results of operations </I>section entitled <I>Year ended December
31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 34
of the Registration Statement (page 40 of Amendment No.&nbsp;1).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 13

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Selling and marketing&#148; paragraph of the <I>Management&#146;s discussion
and analysis of financial condition and results of operations </I>section entitled <I>Year ended December
31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 34
of the Registration Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Research and development&#148; paragraph of the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section entitled <I>Year
ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 34 of the Registration
Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;General and administrative&#148; paragraph of the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section entitled <I>Year
ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on pages 34 and 35 of the
Registration Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has amended the &#147;Interest income&#148; paragraph of the <I>Management&#146;s discussion and
analysis of financial condition and results of operations </I>section entitled <I>Year ended December&nbsp;31,
2005 compared to year ended December&nbsp;31, 2004 </I>on page 35 of
the Registration Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finally, the Company has amended the &#147;Interest expense&#148; paragraph of the <I>Management&#146;s
discussion and analysis of financial condition and results of operations </I>section entitled <I>Year
ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 35 of the Registration
Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Year ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>30.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>You disclose that the decrease in net revenues in 2005 was primarily due to promotional costs
owed to a wholesaler. Please clarify why you recorded these costs as a reduction of revenue.
If the decrease was primarily a result of an increase in product promotion and fee service
costs, please discuss why these fees increased in 2005 over 2004.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;30 by amending the &#147;Net revenues&#148; paragraph of the
<I>Management&#146;s discussion and analysis of financial condition and results of operations </I>section
entitled <I>Year ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 34 of the
Registration Statement (page 40 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>31.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Your financial statements show a gain on an insurance recovery in 2004. Please expand your
disclosure to discuss the facts and circumstance surrounding this insurance recovery.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 14

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;31 by adding the following &#147;Gain on insurance
recovery&#148; paragraph between the &#147;General and administrative&#148; and &#147;Interest income&#148; paragraphs of
the <I>Management&#146;s discussion and analysis of financial condition and results of operations </I>section
entitled <I>Year ended December&nbsp;31, 2005 compared to year ended December&nbsp;31, 2004 </I>on page 35 of the
Registration Statement (page 41 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Liquidity and Capital Resources &#151; page 35</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>32.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please expand the disclosure on page 36 to include the amount of your minimum purchase
obligations under your agreements with Bioniche and Kristalose.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the fourth and fifth paragraphs on page
36 of the Registration Statement, and replacing those paragraphs
with a new paragraph (page 42 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>33.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please name the third party referenced in the first paragraph of page 37, identify the
specific pharmaceutical drug and disclose the maximum aggregate amount you could be required
to pay pursuant to this agreement.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with Comment No.&nbsp;33 by amending the first paragraph on page 37 of the
Registration Statement (page 43 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Contractual Obligations, page 37</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>34.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise your table to include a total column. Please refer to Rule&nbsp;</B><B>303(a)(5)</B><B> of
Regulation&nbsp;S-K.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by including a total column in the Contractual
Obligations section on page 37 (page 44 of Amendment No. 1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>35.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>It appears that scheduled interest payments on long-term debt are excluded from the table.
Please revise the table to include scheduled interest payments or disclose and explain to us,
why interest payments are excluded. If you believe that interest payments should be excluded
from the table, please expand your liquidity and capital resources disclosures to discuss the
amount and timing of interest payments</B></TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 15

</DIV>

<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>necessary to understand your future cash requirements. Please refer to section IV of
Financial Reporting Release 72.</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by including a row in the contractual obligations
table on page 37 (page 44 of Amendment No. 1) to show scheduled interest payments on its long-term debt.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Quantitative and Qualitative Disclosures of Market Risks, page 38</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>36.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>It appears that your term loan and revolving line of credit are subject to interest rate
risk. Also you do not appear to provide any quantitative or qualitative disclosure regarding
your foreign currency exchange rate risk. Please provide the disclosures required by Rule&nbsp;305
of Regulation&nbsp;S-K. If you believe certain market risks are not material please disclose this
fact.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by deleting the paragraphs under the section
entitled <I>Quantitative and Qualitative Disclosure of Market Risks </I>on page 38 of the Registration
Statement, and replacing the paragraphs with revised paragraphs (pages
45-46 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Business &#151; page 39</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>37.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please include a discussion of the material terms of your agreements with the following
parties:</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Vanderbilt University, both the intravenous ibuprofen license and the
collaboration agreement;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Mayne Pharma Pty, Ltd &#151; for the manufacture of commercial supplies of
Amelior and the license agreement;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Bertek &#151; exclusive rights to commercialize Kristalose;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>University of Mississippi &#151; the collaboration agreement;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>University of Tennessee &#151; collaboration agreement;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Advogent Group &#151; sales force agreement; and</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Alveda Pharmaceuticals &#151; license agreement</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="margin-left: 4%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>The discussion should include each parties&#146; rights and obligations, amounts paid/received to
date, existence of royalty provisions, amounts paid/received to date, aggregate potential
milestone payments; duration and termination provisions and any other material terms. To
the extent these agreements have not been filed, please file them or provide us with an
analysis supporting your determination that you are not substantially dependent on them.</B></DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 16

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To comply with Comment No.&nbsp;37 with regard to discussion of Vanderbilt, the Company has added
an additional sentence to the end of the final paragraph on page 45
(page 54 of Amendment No.&nbsp;1).
The Company has requested confidential treatment of all payment information in the agreement with
Vanderbilt.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do not consider our collaboration agreements with Vanderbilt University, the
University of Mississippi and the University of Tennessee, which relate to our subsidiary, CET, to
be material to our business at this time. To date, we have not
incurred any material expenses for research and development of
products related to these collaborations. All such products are at
the pre-clinical stage of development, and we do not foresee incurring
material expenses for these collaborations in the near term.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
comply with Comment 37 with respect to agreements with Mayne Pharma
Pty. Ltd., the Company has added additional language to the section entitled
<B>Manufacturing </B>regarding the Company&#146;s payments to Mayne
on page 51 (pages 59-60 of Amendment No.&nbsp;1).
We hereby notify the Commission that we do not consider our agreement with Mayne Pharma (SEA)&nbsp;Pte
Limited to market and distribute Amelior in Southeast Asia to be material to our business at this
time. Amelior has not yet received regulatory approval for marketing and distribution in Southeast
Asia, and it may never receive regulatory approval in Southeast Asia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to discussion of its agreement with Bertek, the Company has complied with Comment
No.&nbsp;37 by amending the second paragraph of the section entitled <I>Kristalose </I>on page 47 of the
Registration Statement (page 56 of Amendment No.&nbsp;1). Cumberland Pharmaceuticals further advises
the Commission Staff that it and Mylan Bertek Pharmaceuticals Inc. f/k/a Bertek Pharmaceuticals
Inc. entered into a mutual release on April&nbsp;10, 2006 and have no ongoing contractual relationship.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to discussion of the agreement with Advogent Group, we hereby notify the
Commission Staff that the legal name of the counterparty to this agreement currently is Inventiv
Commercial Services, LLC, and this agreement is subject to a request for confidential treatment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby notify the Commission that we do not consider our agreement with Alveda
Pharmaceuticals to market and distribute Amelior in Canada to be material to our business at this
time. Canadian regulatory authorities have not issued approval for marketing of Amelior in Canada
and may never issue such regulatory approval.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Overview &#151; page 39</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>38.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In the first paragraph you state that you have established &#147;a product development and
commercial operating infrastructure that is scalable to accommodate our expected growth.&#148; It
is unclear what this statement means. Please revise the discussion accordingly. We may have
additional comments.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by amending the first paragraph under the heading
<B>Overview </B>on page 39 (page 47 of Amendment No.&nbsp;1).
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 17

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has also amended the paragraph under the heading <B>Our Company </B>on page 1 of the
Registration Statement with the same amended language (page 1 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>39.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In the last paragraph on page 39, it is unclear whether IMS Health is the source for all the
statistical information or just the statement about the growth in the use of ketorolac.
Please clarify. If IMS Health is not the source of the other statistical information, please
revise to identify the other sources. Similarly revise the last paragraph on page 40.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has complied with this comment by amending the last paragraph
on page 39 (page 47 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has also complied with this comment by amending the first paragraph on page 40
(page 48 of Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>40.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise the identify the competitive advantages you believe Kristalose has over
competing prescription laxatives.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has complied with this comment by revising the language on
page 40 (page 48 of
Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
supplementally refer the Commission Staff to the first full paragraph
on page 48 (page 56 of Amendment No.&nbsp;1), which discusses the competitive advantages of Kristalose in further
detail.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>41.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In the third full paragraph on page 40 you indicate that you have obtained grant funding to
support the development of several early-stage product candidates. Please disclose and
discuss the source and amount of these grants and the purposes to which they are to be put.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has complied with this comment by revising the language on
page 40 (page 48 of
Amendment No.&nbsp;1).
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>42.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>To the extent you are aware of any adverse effects of any of your products or your product
candidate, please describe them.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 18

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please refer to our response to Comment No.&nbsp;14, in which the Company addresses any adverse
effects of its products.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Consolidated Financial Statements</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Report of Independent Registered Public Accounting Firm, page F-2</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>43.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please have KPMG LLP identify the city and State where the report was issued in accordance
with Article&nbsp;2-02 of Regulation&nbsp;S-X.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by amending page F-2 to insert &#147;Nashville,
Tennessee&#148; as the city and state where the report was issued by KPMG LLP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Consolidated Statements of Income, page F-4</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>44.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please revise your presentation of other income and expense to clearly indicate which amounts
have a negative attribute. Please refer to Rule&nbsp;4-</B><B>01(c)</B><B> of Regulation&nbsp;S-X.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by revising its presentation in the Consolidated
Statements of Income to clearly indicate interest expense and other expenses, which indicates their
negative attribute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Notes to Consolidated Financial Statements</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>(2)&nbsp;Significant Accounting Policies</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>45.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>It appears that you have not provided any segment disclosures as required by SFAS 131. If
you believe you have a single reportable segment, please disclose this fact and disclose the
factors used to identify your single reportable segment as required by paragraph </B><B>26(a)</B><B> of SFAS
131. Please disclose revenue by product as required by paragraph 37 of SFAS 131 and
information about major customers as required by paragraph 39 of SFAS 131.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company&#146;s only reportable segment is the pharmaceutical prescription products. The Company
complied with this comment by inserting a paragraph on page F-7 of
the Registration Statement (page F-7 of Amendment No. 1) in
addition to the disclosure set forth on the top of page F-26 (page
F-28 of Amendment No. 1).
</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 19

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company also complied with this comment by inserting tables addressing the Company&#146;s net
revenues and Company&#146;s co-promotion revenues on page F-10 of the
Registration Statement (page F-11 of Amendment No.&nbsp;1).
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Supplementally, we refer the Commission staff to footnote 14 in the notes to the consolidated
financial statements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>(b)&nbsp;Accounts Receivable, F-7</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>46.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Your disclosure that product revenue is recognized when the shipment is received by the
customer appears to be inconsistent with your revenue recognition policy definition of
delivery on page 29. Please revise your disclosure here and in Note </B><B>2(h)</B><B> to clarify when
delivery has occurred in order to recognize revenue.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this Comment No.&nbsp;46 by amending the first full paragraph on page
F-8 (second full paragraph on page F-8 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has also complied with this Comment No.&nbsp;46 by amending the last paragraph on page
F-9 and the continuation of that paragraph on page F-10 (page F-10 of Amendment No.&nbsp;1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>(7)&nbsp;Income Taxes, page F-19</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>47.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>It appears that your deferred tax benefit for 2005 and 2006 consists solely of adjustments to
the beginning-of-the-year balance of the valuation allowance due to a change in judgment about
the realizability of deferred tax assets. Based on your disclosure in Schedule&nbsp;II &#151;
Valuation and Qualifying Accounts it appears that part of the change in the valuation
allowance was due to the utilization of deferred tax assets. Please revise to disclose the
significant components of your income tax benefit for each period presented or tell us how
your disclosure complies with paragraph 45 of SFAS 109. Please expand your disclosure to
describe the nature of the permanent differences listed in your 2004 tax reconciliation.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this Comment No.&nbsp;47 by inserting language at the end of the
table at the top of page F-20 (page F-21 of Amendment No. 1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company also complied with this Comment No.&nbsp;47 by inserting
language on page F-20 (page F-21 of Amendment No. 1).
</DIV>






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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 20

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>(8)&nbsp;Shareholder&#146;s Equity, page F-21</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>48.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>In order for us to fully understand the equity fair market valuations reflected in your
financial statements, please provide an itemized chronological schedule covering all equity
instruments issued since January&nbsp;1, 2006 through the date of your response. Please provide
the following information separately for each equity issuance:</B></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>a.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The date of the transaction;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>b.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The number of shares/options issued/granted;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>c.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The exercise price or per share amount paid;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>f.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The identity of the recipient, indicating if the recipient was a
related party;</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>g.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Nature and terms of concurrent transactions; and,</B><BR></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>h.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>The amount of any compensation or interest expense element.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By separate cover, the Company is providing the Commission Staff a chronological schedule
covering all equity instruments issued by the Company since January&nbsp;1, 2006.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>d.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Management&#146;s fair market value per share estimate and how the estimate
was made;</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company addresses this comment in its additional disclosure set forth in response to
Comments No.&nbsp;27 and 28 hereof.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left"><B>e.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>An explanation of how the fair value of the convertible preferred stock
and common stock relate, given the one for one conversion ratio;</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has not issued equity securities involving Series&nbsp;A convertible preferred stock
since January&nbsp;2002. The preferences of the Series&nbsp;A preferred stock relative to common stock are
generally based on liquidation rights of $3.25 per share and rights to reduce dilution in the event
the Company issues additional equity securities at a purchase price of less than $3.25 per share.
With respect to other rights, such as voting rights and dividend rights, preferred shareholders
generally do not have any preference in rights over common shareholders.
</DIV>

<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>Progressively bridge management&#146;s fair market value determinations to the current estimated
IPO price range. Please reconcile and explain the differences between the mid-point of your
estimated offering price range and the fair values included in your analysis. Provide us
with a chronology of events leading to the filing of your IPO including when discussions
began with potential underwriters. If you do not</B></DIV>



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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Securities and Exchange Commission<BR>
June&nbsp;22, 2007<BR>
Page 21

</DIV>

<DIV align="left" style="margin-left: 3%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><B>have an estimated offering price in your next filing we are deferring evaluation of
stock-based compensation until your estimated offering price is specified and may have
further comment in this regard.</B></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company plans to respond to the Staff&#146;s comment early next week,
at which time the Company and the underwriters will have a better
sense of valuation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Part II</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Item&nbsp;15</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>49.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Please disclose the factual basis for exemption for each transaction identified.</B></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Response:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has complied with this comment by including several additional paragraphs at the
end of <U>Item&nbsp;15</U> as page II-2 in Part&nbsp;II of Amendment No.&nbsp;1 to the Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you have any additional questions, please call the undersigned at (615)&nbsp;259-1479.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely yours,<BR>
<BR>
<U>/s/ Martin S. Brown, Jr.</u>
<BR>
Martin S. Brown, Jr.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">cc:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mary K. Fraser, Esq., United States Securities and Exchange Commission</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">A.J. Kazimi, Cumberland Pharmaceuticals Inc.</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Donald J. Murray, Esq., Dewey Ballantine LLP, Counsel to the underwriters</TD>
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