Net revenues of Evamist have grown from $2.6 million in fiscal year 2009 to $8.6 million in fiscal year 2010 and to $13.0 million in fiscal 2011, despite a significant reduction in sales force and marketing- related expenses associated with the recall and suspension of shipments of Ther-Rx's other products.
A far cry from the $100m/year product they were expecting, but still decent growth. This is worth less than $1m/year to Acrux in royalties, so not a big earner, but better than nothing. And we can hope that a European distributor (or distributors) can do better.
ACR Price at posting:
$3.33 Sentiment: LT Buy Disclosure: Held
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