$30m isn't even the bottom end. Some of their products - or,...

$30m isn't even the bottom end. Some of their products - or, perhaps more accurately, potential products - have a TAM of $20m.

It was very interesting to read the annual report's table of ACR's 15 existing and potential products. ACR doesn't provide any detail on those that are in the earlier stages, which somewhat makes sense I guess. But I would be very interested to know each one's TAM. ACR says the total TAM of those is US$1.2b but that is presumably made up of a range of TAMs; they won't all be the same or even similar. I see nothing to stop ACR giving some indication of each product's individual TAM but ACR doesn't do that. A suspicious mind might think that's because the earlier stage products have higher TAMs, and those closer to seeking approval have lower TAMs. That would, in my view, also be consistent with some of ACR's commentary about the lessons it's learned over the years about products with higher TAMs and fewer (or no) generics; ACR says they now know that's usually for very good reason, but ACR now has the know-how to attack some of those products.