Immuron’s diarrhoea solution pushes revenue to record level
Health & Biotech
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Immuron’s natural solution for fighting Bali Belly has driven it to a record $2 million revenue figure for 2018.
The biotech (ASX:IMC) is undertaking trials for a compound to treat fatty liver disease, and also sells over-the-counter traveller’s diarrhoea preventative Travelan.
Travelan uses a powder of “hyperimmune bovine colostrum”, the anti-body rich milk cows produce after calving which has the effect of neutralising the chance of getting diarrhoea when exposed to E-Coli bacteria.
On Wednesday Immuron told investors sales of the product globally were up 29 per cent on 2017, with $765,000 worth of Travelan sales in the US – a 114 per cent increase.
Australians bought $350,000 worth of the product in the fourth quarter, an increase of 53 per cent compared with the same period last year.
“Our focused marketing efforts demonstrated by the team are helping to build awareness and educate both consumers and travel medicine clinicians on the benefits of Travelan,” Immuron chief executive Jerry Kanellos told investors.
Immuron has been a biotech sector success story over the past year, with the share price jumping by 75 per cent over the past 12 months to suit at 38.5c this morning.
In the first half of 2018, the company brought in $1.1 million in customer receipts and burned $3.1 million.