Melbourne-based biopharmaceutical company, Immuron Limited, has announced record half yearly sales of its over-the-counter gastrointestinal and digestive health immune supplement, Travelan. The unaudited net sales for the first half of the 2024 fiscal year amounted to AUD $1,853,048 in Australia, marking a significant increase from the AUD $260,205 recorded in the same period last year. This surge in sales represents a 132% growth compared to the pre-pandemic peak period in the first half of the 2020 fiscal year.
The notable increase in sales can be attributed in part to the accrual of backorders during the three months (May, June, July) when the company was awaiting Good Manufacturing Practice (GMP) Clearance from the Therapeutic Goods Administration (TGA).
It is worth noting that short term resident returns in Australia for October 2023 were 47% higher than the previous year and nearing pre-pandemic levels, with a 93% recovery rate in comparison to October 2019, according to the Australian Bureau of Statistics.
In the United States, Travelan sales also saw substantial growth, reaching AUD $481,920 in the first half of the 2024 fiscal year. This represents an increase from the AUD $295,411 recorded in the same period last year. However, sales fell by $31,633 (-6%) when compared to the pre-pandemic peak period of the first half of the 2020 fiscal year.
The International Trade Administration reported that total U.S. citizen international visitor departures from the United States in September 2023 were 17% higher than in September 2022. Despite this increase, Immuron’s target departure markets experienced a slightly lower growth rate during the period of July to September 2023, with a 1% increase compared to the pre-pandemic period of July to September 2019.
Earlier this year, Immuron announced that it had shipped inventory to Amazon for the launch of Travelan in the United States. The Amazon launch has been progressing well, with sales surpassing expectations. Although the low travel season is approaching in the U.S., Immuron expects sales to gain momentum as the peak spring and summer travel period approaches.
Immuron Limited (ASX: IMC; NASDAQ: IMRN) is an established Australian biopharmaceutical company with a focus on the development and commercialization of orally delivered targeted polyclonal antibodies for the treatment of inflammatory mediated and infectious diseases.
The company’s remarkable achievement in Travelan sales reflects the growing demand for its immune supplement in both Australia and the United States. With the recovery of travel-related activities and the anticipation of increased sales during the upcoming peak travel period, Immuron is poised for continued success in the biopharmaceutical industry.
