Revenue in 2013 was made up of initial sales royalties following the launch of Lyxumia® by Sanofi in March 2013. With the first Zealand invented medicine now on the market, the way is paved for sustained revenue to our company. Still, as market presence is built on a country by country basis, sales in this first years after launch are typically limited.
As no milestone payments were recognized from our partners in 2013, we saw a decrease in revenue from previous years. Revenue in 2011 and 2012 was entirely milestone driven, and this type of revenue varies greatly from year to year.