The Acrux Limited (ASX: ACR) share price has made a notably strong gain during trade today.
In afternoon trade the drug development company's shares are up 7% to 31 cents.
What happened?
This morning Acrux updated the market on the sales of its Axiron drug which is licenced to pharmaceutical giant Eli Lilly.
Sales of the underarm testosterone medication fell sharply during the first three quarters of FY 2017, but have bounced back strongly in the fourth-quarter.
According to today's release, Eli Lilly reported global Axiron net sales of US$36.8 million during the quarter, up 25.6% on the prior corresponding period and 34.8% higher than in the third-quarter.
This is an impressive performance for the drug when you consider that it lost its patent protection last year, allowing generic versions to be launched.
Acrux shareholders will no doubt be relieved as well, as royalties from the drug contributed 88.5% of the company's FY 2016 sales.
