Acrux Focuses on Development Pipeline, and Generic Competitors to Axiron Wade In
We retain our AUD 0.40 fair value estimate for no-moat Acrux after it reported fiscal 2017 royalty revenue of AUD 23.3 million, down 8% year on year, largely reflecting licensing income from global sales of Axiron by commercial partner Eli Lilly. This translated to a net loss of AUD 0.2 million, after the company booked a AUD 10.6 million impairment charge relating to the reassessment of Axiron following the launch of Perrigo’s generic version on July 6, 2017, in the U.S. testosterone market. Op...Acrux is a pharmaceutical company engaged in the development and commercialization of specialty and generic transdermal and topical pharmaceuticals for global markets. Co.'s topical or transdermal pharmaceutical product portfolio can be segregated into two streams - generic pharmaceutical products and specialty pharmaceutical products.
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