REVENUES

Product Revenues

The Company’s net revenues consisted of the following for the three months ended March 31, 2014 and 2013:



	Three months ended March 31,
	2014		2013
Products:
Acetadote	$	2,721,086	$	7,251,995
Omeclamox-Pak	1,139,421		—
Kristalose	3,376,057		2,117,250
Vaprisol	298,332		—
Caldolor	502,398		410,424
Other	55,950		478,463
Total net revenues	$	8,093,244	$	10,258,132

As discussed in Note 10, the Company acquired rights to two new products: Omeclamox-Pak and Vaprisol. On October 28, 2013, Cumberland entered into an agreement with Pernix Therapeutics ("Pernix") to distribute and promote Omeclamox-Pak. Under the terms of the agreement, effective October 1, 2013, the Company began to record the revenue of this product and effective January 2014 Cumberland began distributing Omeclamox-Pak and promoting it to gastroenterologists across the United States. On February 28, 2014, Cumberland entered into an agreement with Astellas Pharma US, Inc. ("Astellas") to acquire certain product rights, intellectual property and related assets of Vaprisol^®. The Company began selling Vaprisol in March 2014.

As part of the November 12, 2012 settlement agreement with Paddock Laboratories, LLC ("Paddock") and Perrigo Company ("Perrigo"), Cumberland supplies Perrigo with an authorized generic version of the Company's Acetadote product. Acetadote product revenue for the three months ended March 31, 2014 includes $1.3 million in its share of the Acetadote generic distributed by Perrigo, and $3.0 million for the three months ended March 31, 2013.

Other Revenues

During the first three months of 2013, the Company entered into three new agreements with international partners for commercialization of certain of its products into additional international territories. As a result of the new agreements, Cumberland recognized approximately $0.4 million of non-refundable up-front payments as other revenue in the consolidated statement of operations during the three months ended March 31, 2013. For the full year of 2013, the Company entered into a total of six new agreements with international partners and amended its agreement with Harbin Gloria Pharmaceuticals Co., Ltd ("Gloria"), a Chinese pharmaceutical company, to extend its territory.

The agreements entered into during 2013 provide that each of the partners are responsible for seeking regulatory approvals for the products, and following approvals, will handle ongoing distribution and sales in the respective international territories. The Company maintains responsibility for the intellectual property and product formulations. Under the licensing agreements, Cumberland is entitled to receive additional milestone payments upon the partners' achievement of defined regulatory approvals and sales milestones. The Company will recognize revenue for these substantive milestones using the milestone method. The 2013 agreements provide for up to $0.6 million in milestone payments related to regulatory approvals and up to $4.0 million in milestone payments related to total and annual product sales. As of March 31, 2014, Cumberland has not recognized any revenues related to milestones associated with the new agreements. The Company is also entitled to receive royalties on future sales of the products under the agreements.