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Acrux Limited (ASX:ACR) Axiron Launched by Eli Lilly in the United States

Axiron Launched by Eli Lilly in the United States
 
- Axiron® (testosterone) topical solution launched by Eli Lilly in the United States
- Testosterone therapy market in the United States is $1 billion per annum, growing at 20% annually
 
Acrux (ASX: ACR) today announced that its partner Eli Lilly and Company has launched Axiron (testosterone) topical solution in the United States.
 
Axiron is the first testosterone replacement product approved for administration via the armpit (underarm). The male testosterone therapy market in the United States is worth US$1 billion per annum and growing at 20% annually.
 
Acrux has received milestone payments totalling US$140 million from Eli Lilly. Acrux will now receive royalties on global sales of Axiron and is eligible for further commercial milestone payments of up to US$195 million.
 
Commenting on the Axiron launch, Acrux CEO Richard Treagus said, “We have a very capable and committed marketing partner in Lilly and we are naturally delighted to be making Axiron available to patients in the US.”
 
Acrux Chairman Ross Dobinson said, “This is the most significant step in Acrux's development, given the growth potential for the product and Eli Lilly's distribution strength. The Acrux Board is very pleased to have the product launched in this key market, which will underpin Acrux's growth and dividend stream.” 
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