If you think of an old black and white werewolf movie inevitably it will be Lon Chaney as the werewolf you will think of, and so this one will be overlooked, as it often is. This film is good to watch, and although it will harldy scare you it will cause a few chuckles. The werewolf here doesn't have lycanthropy, but lycanthrobia, or as Dr Yogami says, werewolfery.
Our story starts off in Tibet on the trail of a rare flower, and then jumps to London some years later. The botanist Wilfred Glendon who was in Tibet to find the flower was bitten by a creature there, and thus changes into a werewolf. Concealing his problem and distancing himself more and more from his wife and friends he becomes jealous when an old beau of his wife turns up. At the same time the mysterious Dr Yogami turns up on the scene to see if Glendon has managed to make the flower he brought back from Tibet to flower.
There is some light comic relief here with two gin sodden old dames and one of Glendon's female relatives, which works quite well. As this is an American London though don't expect people to use colloquisms or the scenery to always match what is real. The inn in this looks like it comes from Dracula, but with the sound of a tinny piano playing in the background. There are some cliches here and some continuity errors, but on the whole that doesn't really detract from this, as it is fun.
The acting is okay and the storyline is well thought out, the effects are also alright. Don't expect to get scared (this is a 1935 movie), but sit back and just enjoy. At the current price you can't really go wrong.