Cumberland Pharmaceuticals sets 6.25 mln share IPO

WASHINGTON, July 23 Mon Jul 23, 2007 3:12pm EDT

WASHINGTON, July 23 (Reuters) - Cumberland Pharmaceuticals Inc. on Monday set its planned initial public offering at 6.25 million common shares with each share to cost between $14 and $16.

The Nashville, Tennessee-based company said the underwriters, led by UBS Investment Bank, will have the option to buy another 937,500 shares to cover heavy demand, according to an amended prospectus filed with the U.S. Securities and Exchange Commission.

It is planning a Nasdaq listing under the symbol "CPIX."

(Reporting by Karey Wutkowski and John Poirier)