What Acrux does

Acrux Limited (ASX: ACR) is an Australian specialty pharmaceutical company founded in 1998 and listed on the ASX since 2004. The company develops and commercialises topically applied pharmaceutical products, including ointments, creams, gels, sprays, suspensions, and drops, using proprietary drug delivery technology developed over more than 25 years. Its product portfolio spans dermatology (Dapsone 5% and 7.5% gels for acne vulgaris), women's health (Evamist and Lenzetto estradiol transdermal sprays for menopausal symptoms), pain management (Nitroglycerine 0.4% ointment for chronic anal fissure), and topical anaesthesia (Lidocaine and Prilocaine Cream). The company operates GMP manufacturing facilities at its West Melbourne headquarters and holds a TGA clinical trial manufacturing licence, with FDA Remote Regulatory Assessment outcomes confirming compliance.

Acrux operates an asset-light commercial model, licensing its developed products to established global pharmaceutical companies for distribution in specific territories rather than selling directly. Its core licensees are Padagis (US commercialisation of Evamist and previously Lidocaine/Prilocaine Cream), Gedeon Richter (European Union and international commercialisation of Lenzetto across more than 40 countries), and TruPharma (US commercialisation of Dapsone gels and Nitroglycerine ointment). Revenue is generated primarily through royalty payments from these licensees based on product sales, supplemented by a growing contract laboratory and product development services business that provides IVRT testing, formulation development, analytical services, regulatory support, and technology transfer to pharmaceutical, biotech, cosmetics, and veterinary clients.

In H1 FY2026 (six months to 31 December 2025), Acrux reported revenue of $3.573 million, more than double the prior year, and returned to profitability with a $165,000 net profit following a substantial loss in the prior corresponding period. This turnaround was driven by the first full revenue contribution from all four marketed products combined with cost reductions from discontinued development programs and the December 2025 divestment of its Prilocaine and Lidocaine cream product. The company is now pivoting strategy toward differentiated transdermal products and device-based therapies, with three additional ANDAs under FDA review and international expansion via new distribution agreements including a Dapsone gel distribution deal in Saudi Arabia.

Name

Acrux

Legal name

Acrux Limited

Website

https://acrux.com.au

Company type

Public

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Acrux Limited (ASX: ACR) is an Australian specialty pharmaceutical company that develops and licenses topical and transdermal drug delivery products (Evamist, Lenzetto, Dapsone gels, Nitroglycerine ointment) to global pharma partners including Padagis, Gedeon Richter, and TruPharma, while also offering contract laboratory and formulation development services.

Ownership category

akta.pro rank

Product category

Specialty Topical Pharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Dermatology OTC & Skin Health (Acne Treatments, Eczema/Psoriasis OTC, Antifungals, Wart Removal) (CRADAMAF)

akta.pro secondary industry

Feminine & Sexual Wellness OTC (Yeast Infection OTC, Lubricants, Condoms, Pregnancy Tests) (CRADAMAH)

Keywords

• Topical pharmaceutical development
• Transdermal drug delivery
• Generic dermatology products
• Pharmaceutical licensing
• Laboratory formulation services

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Licensing Royalties: Acrux earns income from sales of products by its commercial licensees including Padagis, Gedeon Richter, and TruPharma. Revenue is generated from royalty payments based on product sales in licensed territories.
2. Laboratory and Product Development Services: Acrux provides contract laboratory services including IVRT testing, formulation development, analytical development, stability and QC services, regulatory services, and technology transfer to pharmaceutical, biotech, cosmetics, and veterinary companies.
3. Product Sales Revenue: Revenue from first full revenue contribution from four marketed products: Evamist, Dapsone 5%, Dapsone 7.5%, and Nitroglycerin ointment, with total revenue of $3.573 million for H1 FY2026, more than double the prior year.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Acrux is an Australian specialty pharma company that develops and commercialises topically applied pharmaceutical products using proprietary drug delivery technology, including generic and brand products in dosage forms such as sprays, gels, creams, and ointments. Products are commercialised globally through exclusive licensing agreements with pharmaceutical partners in the US and European markets. The company also provides contract laboratory and product development services including IVRT testing, formulation development, analytical development, regulatory services, and technology transfer to pharmaceutical, biotech, cosmetics, and veterinary clients.

Product overview

Acrux is a specialty pharma company with a diversified product portfolio based on topically applied pharmaceutical products. The company develops and commercialises both brand and generic products through licensees, with a focus on the US market. Key commercialised products include: EVAMIST (estradiol transdermal spray) licensed to Padagis for the US market; LENZETTO (estradiol spray) licensed to Gedeon Richter for Europe; Dapsone 5% Gel and Dapsone 7.5% Gel (for acne vulgaris) licensed to TruPharma for the US; Nitroglycerine 0.4% Ointment (for chronic anal fissure) licensed to TruPharma; and Lidocaine and Prilocaine Cream (topical anesthetic) licensed to Padagis. The company draws on 25 years of experience with on-site laboratories and GMP manufacturing facilities to develop topical generic products targeting the US market.

Differentiator

Problem solved

Functional benefit

Brands

• Lenzetto: Estradiol 1.53mg/spray transdermal spray for treatment of hot flushes associated with menopause
• Evamist
• Dapsone 5% Gel
• Dapsone 7.5% Gel
• Nitroglycerin 0.4% Ointment

Products and services

• EVAMIST Estradiol transdermal spray for women to treat moderate to severe hot flushes associated with menopause. Licensed to Padagis (formerly Perrigo) for US commercialisation since 2009.
• LENZETTO Novel estradiol spray (estradiol 1.53 mg/spray) for women to treat moderate to severe hot flushes associated with menopause. Licensed to Gedeon Richter for the European Union and launched in 2016, now sold in over 40 countries.
• Dapsone 5% Gel FDA-approved AB-rated generic topical gel for the treatment of acne vulgaris. Licensed to TruPharma for US commercialisation.
• Dapsone 7.5% Gel FDA-approved AB-rated generic topical gel for the treatment of acne vulgaris in children 9 years of age or older. Licensed to TruPharma for US commercialisation.
• Lidocaine and Prilocaine Cream, USP 2.5%/2.5% AB-rated generic version of EMLA Cream for topical anesthesia on normal intact skin for local analgesia and genital mucous membranes for superficial minor surgery. Launched in US by Padagis in December 2022; subsequently divested in December 2025.
• Nitroglycerine 0.4% Ointment FDA-approved topical ointment for the treatment of moderate to severe pain associated with chronic anal fissure. Licensed to TruPharma for US commercialisation.
• Laboratory and Product Development Services Contract laboratory and product development services provided to pharmaceutical, biotech, cosmetics, and veterinary clients. Services include formulation development, analytical development, stability and QC services, regulatory services, technology transfer, and In Vitro Release Testing (IVRT) for drug release profiles with FDA-approved studies under a GLP/GMP compliant quality management system.

Quantifiable outcome

• Revenue of $3.573 million for H1 FY2026, more than double prior year
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• PadagiscoreChannel Partner/ Reseller/ DistributorPadagis (formerly Perrigo) is a key US licensing partner for Acrux. They commercialise Evamist® (estradiol transdermal spray) in the United States since 2009, and Lidocaine and Prilocaine Cream (generic EMLA®) launched in December 2022.
• Gedeon RichtercoreChannel Partner/ Reseller/ DistributorGedeon Richter commercialises Lenzetto® (estradiol spray) in the European Union. Product launched in 2016 and is now sold in over 40 countries across the EU and other markets in South America.
• TruPharmacoreChannel Partner/ Reseller/ DistributorTruPharma is licensed to commercialise Acrux's generic topical products in the US market: Dapsone 5% Gel (launched 2024), Dapsone 7.5% Gel (launched May 2025), and Nitroglycerine 0.4% Ointment (launched December 2024).
• Western Gold Exploration LtdminorStrategic or Co-development PartnerJoint venture through Acrux Gold Limited for the Caledonian Gold Project in Scotland. Acrux Gold holds joint venture interests with Western Gold for exploration of gold and silver mineralisation in the Orchy and Lyon licence areas covering approximately 100km² to 150km².

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Gedeon Richter: Hungarian-headquartered specialty pharmaceutical company with a major women's health franchise; Acrux's exclusive European licensee for Lenzetto across 40+ countries. A far larger pharma player but directly comparable on the Lenzetto product economics.
• Teva Pharmaceutical Industries: Global generic pharmaceutical leader with a large dermatology and women's health portfolio. Represents the scaled-incumbent comp on AB-rated generic launches in the categories Acrux targets.
• TruPharma: US-based specialty generic pharmaceutical company commercialising dermatology and other generic topical products; Acrux's licensee for Dapsone 5% Gel, Dapsone 7.5% Gel, and Nitroglycerine 0.4% Ointment in the US.
• Padagis: US specialty generic pharmaceutical company formed from Perrigo's prescription business; Acrux's largest US licensing partner for Evamist and Lidocaine/Prilocaine Cream. Operates a broader generic dermatology and women's health portfolio than Acrux.
• Perrigo Company: US-headquartered consumer healthcare and generic products company; Padagis (formerly Perrigo's generics business) is the Acrux US partner for Evamist. A large, established comparator in the topical generic and consumer Rx space.

Direct peers

• Amneal Pharmaceuticals: US-based specialty generics manufacturer with a strong dermatology franchise including Dapsone 7.5% Gel and other AB-rated topical generics. Comparable business model in developing and licensing complex topical generics into the US market.
• Mayne Pharma Group: ASX-listed Australian specialty and generic pharmaceutical company with topical and oral specialty generics. Closest direct peer to Acrux in scale, geography, and topical/specialty positioning; Acrux's CFO previously held senior roles at Mayne Pharma, reinforcing the operating-model similarity.
• iNova Pharmaceuticals: Australia and APAC-focused specialty pharma company commercialising prescription and OTC products across multiple therapeutic areas. Similar business model to Acrux - licensing and distributing products through partnerships into regional markets.
• IDT Australia: ASX-listed Australian specialty pharmaceutical and drug development services company offering contract manufacturing and clinical supplies. Comparable to Acrux on the contract lab/services side and Australian listed-pharma profile; Acrux's CFO previously worked at IDT.
• Ego Pharmaceuticals: Privately held Australian dermatological pharmaceutical company headquartered in Melbourne. Acrux's CEO spent 12 years building Ego's dermatology export business to over 50% of revenue, and Ego's dermatology focus directly parallels Acrux's Dapsone acne franchise.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/acrux

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Acrux