REVENUES

Product Revenues

The Company’s net revenues consisted of the following for the three and six months ended June 30, 2015 and 2014:



	Three months ended June 30,				Six months ended June 30,
	2015		2014		2015		2014
Products:
Acetadote	$	2,778,677	$	3,063,819	$	4,321,686	$	5,784,905
Omeclamox-Pak	944,185		1,344,869		1,702,376		2,484,290
Kristalose	4,121,966		3,559,313		8,220,744		6,935,370
Vaprisol	480,034		1,071,433		1,504,008		1,369,765
Caldolor	460,052		626,684		1,654,733		1,129,082
Other	124,827		84,050		192,968		140,000
Total net revenues	$	8,909,741	$	9,750,168	$	17,596,515	$	17,843,412

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 $1.8 million for both the second quarter of 2015 and 2014 and $2.3 million and $3.2 million on a year-to-date basis as of June 30, 2015 and 2014, respectively.

Other Revenues

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 June 30, 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.