Immuron Ltd (NASDAQ:IMRN, ASX:IMC), a biopharmaceutical company headquartered in Australia, says sales of its immune supplement Travelan® have soared.
Sales figures for the product, designed to combat pathogenic bacteria and their toxins in the gastrointestinal tract, have climbed in both the Australian and international markets.
Pronounced surge
In the fiscal year to date (FYTD) ending March 31, 2024, global sales of Travelan reached A$3.6 million, marking a 154% increase compared to the prior comparative period (pcp).
The March 2024 quarter alone brought in A$1.3 million, up 51% on pcp and a substantial 75% increase from the last quarter.
In Australia, the surge was even more pronounced, with FYTD sales hitting A$2.8 million, a 234% jump on pcp, and quarterly sales in March 2024 rising by 66% to A$0.9 million, nearly doubling the figures from the previous quarter.
The lucrative US market yielded a more moderate yet steady growth, with FYTD sales of A$800,000, up by 35% on pcp.
The March 2024 quarter sales were A$300,000, reflecting a 7% increase on pcp and 18% over the last quarter.
The uptick coincides with increased travel activity, as reported by the Australian Bureau of Statistics and the International Trade Administration, indicating a positive trend for the travel-related health supplement market.
Walmart (NYSE:WMT) debut
Of course, the big development for the company is the debut of Travelan sales on Walmart.com, marking a key milestone in Immuron’s expansion efforts into North America.
Immuron chief commercial officer Flavio Palumbo said of the record figures: “We continue to be excited by the strong sales results on Travelan.
“Immuron’s investment to drive awareness of the Travelan brand has seen continued strong sales results in Australia.
“We hope to get similar growth of the brand as we increase our investment and distribution in North America during the spring (March-May)/summer (June-August) vacation peak period.”