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Management Discussion

• Revenue from product sales was $29.1 million and $27.1 million for the three months ended March 31, 2021 and 2020, respectively, an increase of 8% on a period over period basis. The increase in product revenue was driven primarily by increased sales of our proprietary product XYOSTED® and an increase in sales of epinephrine auto injectors to Teva, offset by a decrease in sales of other partnered products, as detailed below.
• Sales of our proprietary products XYOSTED®, OTREXUP® and NOCDURNA®, which are presented net of estimated product returns and sales allowances, generated revenue of $18.7 million and $12.6 million for the three months ended March 31, 2021 and 2020, respectively, representing a 49% increase on a comparative basis. The increase in proprietary product sales for the three months ended March 31, 2021 as compared to the three months ended March 31, 2020 was principally attributable to continued growth in prescriptions and sales of XYOSTED®, and to new sales of NOCDURNA®, which we in-licensed and began detailing in the fourth quarter of 2020.
• We also manufacture and sell devices, components and fully assembled and packaged product to our partners. Partnered product sales were $10.4 million and $14.5 million for the three months ended March 31, 2021 and 2020, respectively, representing a decrease of 28% on a comparative basis. The net decrease in partnered product sales for the three months ended March 31, 2021 as compared to the same period in 2020 is primarily attributable to a decrease in production and sales of Makena product for AMAG and sales of sumatriptan product to Teva, offset by an increase in sales of epinephrine auto injectors to Teva.