Australian based and globally integrated biopharmaceutical company Immuron Limited (ASX: IMC) has announced record quarterly sales of its over-the-counter gastrointestinal and digestive health immune supplement Travelan.
Immuron previously reported in August that short term stock outages of Travelan in some wholesalers and pharmacies in the June 2023 quarter was resolved following receipt of GMP Clearance from the Therapeutic Goods Administration (TGA). Immuron has since supplied product to wholesalers who in turn have supplied retail pharmacies.
Sales of Travelan increased to $1,339,160 in Q1, FY24, compared to $25,565 in Q1, FY23. Sales increased by $940,991 (236%) on the pre-pandemic peak period (Q1, FY20).
This increase partially reflects three months (May, June, July) of backorders accrued while awaiting GMP Clearance from the TGA.
Immuron anticipates continued demand for replenishment of Travelan as retail pharmacies sell to consumers.
Australian Bureau of Statistics: short term resident returns in July 2023 were 48% higher than July 2022 and approaching pre-pandemic levels (89% of July 2019)1. Cumulative short term resident returns in the 12 months to July 2023 were 77% of those in the pre-pandemic period 12 months to July 2019.
In the USA sales of Travelan increased to $211,080 in Q1, FY24, compared to $16,614 in Q1, FY23. Sales were lower by $20,499 (-9%) on the pre-pandemic peak period (Q1, FY20).
International Trade Administration Total U.S. citizen international visitor departures from the United States in June 2023 increased 20.2% compared to June 2022 and were 99.4% of total departures in June 2019.
Immuron’s target departure markets 3, June 2023 quarter departures were only 3% lower than the pre-pandemic period June 2019.
Immuron reported in early July that it had shipped inventory to Amazon for launch in USA. The Amazon launch has been progressing well with sales ahead of budget. We are now entering the low travel season in USA. Immuron anticipates sales to grow strongly closer to the peak spring / summer travel period.