Cadence Pharmaceuticals

Cadence Pharmaceuticals, Inc. was a biopharmaceutical company established in May 2004 with a strategic focus on in-licensing, developing, and commercializing proprietary pharmaceutical products for the hospital market. The company was co-founded by Theodore "Ted" Schroeder, who also served as its President and CEO. Schroeder's background includes extensive experience in hospital-related sales and marketing at Bristol-Myers Squibb and leadership roles at Elan Pharmaceuticals and Dura Pharmaceuticals, which shaped Cadence's hospital-centric business model.

The company's flagship product was OFIRMEV®, a proprietary intravenous (IV) formulation of acetaminophen designed for pain and fever management in a hospital setting. Cadence acquired the exclusive U.S. and Canadian rights to this formulation in 2006. OFIRMEV addressed a critical need for non-opioid, non-NSAID analgesics and was approved by the U.S. Food and Drug Administration (FDA) in November 2010 for managing mild to moderate pain, moderate to severe pain with adjunctive opioids, and reducing fever in both adult and pediatric patients. The commercial launch in January 2011 marked its introduction as the first IV acetaminophen in the United States. The business model centered on direct sales to hospitals, targeting a concentrated market of approximately 2,000 U.S. hospitals that accounted for over 80% of injectable analgesic sales.

Under Schroeder's leadership, Cadence successfully went public with an IPO on October 25, 2006, and raised over $400 million in capital through various financing rounds. The company saw substantial revenue growth, with OFIRMEV's net product revenue growing from $50.1 million in 2012 to an expected $110.5 million in 2013. This successful commercialization and strong market penetration culminated in the acquisition of Cadence Pharmaceuticals by Mallinckrodt plc, a global specialty pharmaceutical company. The definitive agreement was announced in February 2014, and the transaction, valued at approximately $1.4 billion, was completed in March 2014, at which point Cadence became a wholly-owned subsidiary of Mallinckrodt.

Keywords: Cadence Pharmaceuticals, OFIRMEV, intravenous acetaminophen, hospital pharmaceuticals, pain management, fever reduction, Ted Schroeder, Mallinckrodt acquisition, biopharmaceutical, injectable analgesics, post-operative pain, non-opioid pain relief, specialty pharmaceuticals, hospital sales model, FDA approval, acetaminophen injection, life sciences, drug commercialization, pharmaceutical development, San Diego biotech