ACRUX LIMITED — Capital/Financing Update 2012

Apr 25, 2012

26 APRIL 2012

ACRUX (ACR) - ASX ANNOUNCEMENT

AXIRON[®] MARKET UPDATE

Acrux (ASX: ACR) today provided an update on Axiron and the testosterone therapy market.

The testosterone therapy market in the United States is continuing to grow at more than 25% per annum. The year-on-year growth in Total Prescriptions (TRx) for transdermal testosterone therapies was 28% for the first quarter of 2012.

As at 13 April 2012, Axiron’s share of transdermal TRx had grown to 12% and Axiron’s share of New to Brand Prescriptions (NBRx) for transdermal testosterone therapies was 22%.

Sales in countries outside the United States are expected to commence during Acrux’s 2012/13 financial year. Acrux recently reported that Lilly had received marketing authorisation for Axiron in Canada. Regulatory decisions on marketing applications in Australia and select European countries are anticipated during 2012. A marketing application has also been filed in Brazil.

Acrux earns royalties and milestone payments from Eli Lilly on worldwide net sales of Axiron. Net sales in the first year have been impacted by rebates to patients under the co-payment card assistance that has been offered by Lilly since launch of Axiron in 2011. These rebates are expected to reduce during 2012 as Lilly continues to expand the coverage of Axiron on payer drug formularies.

In its financial results for the first quarter of 2012, Lilly today reported net sales of Axiron for the quarter of US$16.2 million, with a slower reduction in the level of rebates than anticipated by Acrux. Net sales of Axiron in the nine months to 31 March 2012 were US$37 million, leading Acrux to revise its forecast revenue from Axiron in the 2011/12 financial year to between US$6 million and US$7 million (previously between US$7 million and US$8 million) and reaffirm its forecast of approximately $40 million in the 2012/13 financial year.

Contact

Richard Treagus, CEO: 0417 520 509 Jon Pilcher, CFO: 0438 422 271

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www.acrux.com.au

About Acrux

• Acrux is an Australian drug delivery company, developing and commercialising a range of patient-preferred, patented pharmaceutical products for global markets, using its innovative technology to administer drugs through the skin.

• Fast-drying, invisible sprays or liquids provide a delivery platform with low or no skin irritation, superior cosmetic acceptability and simple, accurate and flexible dosing. The technology platform is covered by broad and well-differentiated, issued patents.

• Acrux has two products marketed by licensees in the USA, two products approved in Europe, one product in registration in the USA and further products at earlier stages of development.

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