REVENUES

Product Revenues

The Company’s net revenues consisted of the following for the three months ended March 31, 2015 and 2014:



	Three months ended March 31,
	2015		2014
Products:
Acetadote	$	1,543,009	$	2,721,086
Omeclamox-Pak	758,191		1,139,421
Kristalose	4,098,778		3,376,057
Vaprisol	1,023,990		298,332
Caldolor	1,194,681		502,398
Other	68,125		55,950
Total net revenues	$	8,686,774	$	8,093,244

As discussed in Note 10, Cumberland entered into an agreement on February 28, 2014 with Astellas Pharma US, Inc. ("Astellas") to acquire Vaprisol^® including certain product rights, intellectual property and related assets. The Company began selling Vaprisol in March 2014 and launched promotional efforts for the brand in May 2014.

Cumberland supplies Perrigo Company ("Perrigo") with an Authorized Generic version of the Company's Acetadote product. The Company's revenue generated by sales of its Authorized Generic distributed by Perrigo is included in the Acetadote product revenue presented above. The Company's share of Authorized Generic revenue was $0.5 million and $1.3 million for the first quarter of 2015 and 2014, respectively.

Other Revenues

During the first quarter of 2015, Cumberland entered into an agreement with an international partner for commercialization of Vaprisol in a territory that includes Saudi Arabia, the United Arab Emirates (Dubai) and Pakistan. Under the agreement the Company's partner is responsible for seeking regulatory approval and following approval, will handle ongoing distribution and sales in these international territories. Cumberland maintains responsibility for the intellectual property, product formulations as well as providing finished product for sale. Under the agreement, the Company is entitled to receive an upfront payment and regulatory approval and sales milestone payments as well as a transfer price associated with the supply of the product.

The Company has entered into agreements with a group of international partners for commercialization of the Company's products. The international agreements provide that each of the partners are responsible for seeking regulatory approvals for the products, and following approvals, each partner will handle ongoing distribution and sales in the respective international territories. The Company maintains responsibility for the intellectual property and product formulations. Under the international agreements, the Company is entitled to receive non-refundable up-front payments at the time the agreements are entered into and 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 Company is also entitled to receive royalties on future sales of the products under the agreements. The international agreements provide for $1.4 million in non-refundable up-front payments and milestone payments of up to $1.7 million related to regulatory approvals and up to $4.0 million related to product sales. As of March 31, 2015, the Company has recognized a cumulative $1.4 million in other revenue for the upfront payments and no revenues related to milestones under these international agreements.