Cipher Pharmaceuticals is a growing specialty pharmaceutical company that commercializes novel formulations of successful, currently marketed molecules.

Cipher's first product is a fenofibrate formulation marketed in the United States as Lipofen®. Cipher's second product, an extended-release tramadol, is marketed in the United States as ConZip® and in Canada as Durela®. Cipher's third product, a novel formulation of the acne treatment isotretinoin, was approved by the FDA in May and was launched in the United States in Q4 2012 as Absorica™. The product was also recently approved by Health Canada and Cipher expects to launch it as Epuris™ in Canada in early Q3 2013.