REVENUES

Product Revenues

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



	Three months ended September 30,				Nine months ended September 30,
	2015		2014		2015		2014
Products:
Acetadote	$	2,065,081	$	3,242,014	$	6,386,767	$	9,026,919
Omeclamox-Pak	691,120		996,974		2,393,495		3,481,264
Kristalose	3,939,294		3,967,885		12,160,037		10,903,255
Vaprisol	670,621		653,070		2,199,645		2,022,835
Caldolor	352,343		821,024		2,007,076		1,950,106
Other	166,589		48,080		334,543		188,080
Total net revenues	$	7,885,048	$	9,729,047	$	25,481,563	$	27,572,459

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 $1.1 million and $1.4 million for the third quarter of 2015 and 2014, respectively, and $3.3 million and $4.6 million on a year-to-date basis as of September 30, 2015 and 2014, respectively.

Other Revenues

The Company has entered into agreements, beginning in 2012, with 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 in payments related to product sales. As of September 30, 2015, the Company has recognized a cumulative $1.4 million in upfront payments as other revenue and has not yet recorded any revenue related to the milestone payments associated with these international agreements.