write up in smh

ACRUX (ACR, $3.65)
The testosterone-spray company Acrux set a milestone last year by becoming the first small biotech stock to pay a dividend, but something more distinguishes it from its peers.
As a pooled development fund, neither the dividend nor any future capital gains are taxable.
"It had a 10 per cent market share six months after [its male hormone treatment Axiron's] launch and is likely to end up dominating the whole market," Blake says.
Acrux's partner is the giant drug company Eli Lilly, which manufactures the spray and pays a royalty, with Nomura suggesting the big pharma might buy Acrux sometime. In any case, in an ageing population Acrux's product can only be a growing market.
Although Acrux is a one-drug wonder, it's working on an animal-health product.
In the past year the price has swung between $2.49 and $4.30


Read more: http://www.smh.com.au/money/patient-route-to-healthy-profits-20120225-1tulf.html