rebate

Some commentary from Macquarie emailed yesterday, this looks to be a major issue ATM and keeping the share price well below the 4.77 high.

Emerging Leaders
Acrux ACR Underperform
Rebates remain stubbornly high

* Eli Lilly reported Axiron 4Q net sales at US$23.9m (vs. Macq at US$22.6m).
* Solid net sales number due to lower than expected rebate; however, it appears that the rebate has increased on a seasonally adjusted basis.
* Underperform. Positive that Q4 rebates were lower than Q3, but still increased on a seasonally adjusted basis and concern about slowing market growth.