Ann: Launch of Dapsone 5%, Gel in the United States, page-22

The launch of Dapsone in the US caught my attention. I hold stock in Mayne Pharma which has marketed this drug in the US since late 2021 and has over 30% market share (mainly distributing for Encube and Cosette) and makes very little profit (if any) for Mayne Pharma. Marketing generics in the US is a cut throat business, particularly when there's already 4 or 5 other players in the market as is the case here. The only players which make a profit are wholesalers and PBMs (pharmaceutical benefits managers). Mayne Pharma distributes this product for others in the US through its own online pharmacy, over 40 sales team and network of dermatologist prescribers by passing wholesalers and PBMs and still struggles to be profitable. I can't see how a small player like ACR and its distributing partner, now entering this market will even get a look in. I can't see this product being a money earner for ACR and I hope for holders that the pipeline of products are more innovative than Dapsone. Good luck.