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Wednesday, July 15, 2020 3:47:35 PM
So that's quite an achievement, really remarkable what everybody has done. The other parts of our revenues are profits splits and those we earn as our marketing partners sell into the market. These depend on the timing of their in market sales so there's a natural lag of a few quarters up to even four or could even be six quarters from when we manufacture to when those in market sales are achieved. And when we earn those profit split revenues. So profit splits, they're up from $2.2 million in 2019 to $3.5 million this year. So that's a $1.3 million increase or 59%. So you notice there's a lower rate of increase in profit splits as compared to manufacturing revenues. And this is due to the timing lag I just mentioned between the two types of revenues especially since the extended-release Adderall was launched during the last month of the year. So we ship launched quantities during March 2020, but other than a $375,000 milestone earned when we launched the product, will be earning the profit split revenues as our marketing partner which is Lannett as they sell it into the market. So it takes a few quarters after the product launch for the profit splits to start coming online.
So immediate release Adderall and Dantrolene were launched earlier in the fiscal year, fiscal 2020. So they've already started to positively impact on profit split revenues. And amphetamine, the Adderall extended release has not yet impacted profit split revenues because they were launched right at the end of the year. But we do expect additional contribution from the extended release Adderall as those profit splits start to come online over the next few quarters. So you put the increases in both manufacturing revenues and profit split together, you get total revenues going up from $7.6 million to $18 million in a single year. So before moving on, I think it's important to keep in mind that extended release Adderall has just been launched and the immediate release version of Adderall as well as Dantrolene they're both relatively new in the market.
https://seekingalpha.com/article/4356443-elite-pharmaceuticals-inc-eltp-ceo-nasrat-hakim-on-q4-2020-results-earnings-call-transcript
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