17 Aug 2016
Apricus Biosciences, Inc., a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced that Ferring Pharmaceuticals, the Company’s new partner in the United Kingdom, has received the United Kingdom marketing authorization for Vitaros.
“We are pleased that the transfer of the U.K. marketing authorization to Ferring has been completed and we look forward to the product’s continued growth in this major ED market,” said Richard Pascoe, Chief Executive Officer of Apricus. “This follows the previously announced transfer of the German marketing authorization, marking the second in a series of marketing authorization transfers to Ferring that we anticipate will occur later this quarter.”
Earlier this year, the Company expanded its exclusive Vitaros distribution agreement with Ferring International S.A. in Latin America to now include Germany, Austria, Belgium, Denmark, Finland, Iceland, Luxembourg, Norway, the Netherlands, Sweden, Switzerland and certain countries in Asia (previously Sandoz’s territories), the United Kingdom (previously Takeda’s territory) and Korea. Under the terms of the agreement, Apricus has received a total of $4.5 million in upfront payments from Ferring, in addition to a regulatory milestone payment of $1.6 million. Apricus is eligible to receive up to an additional $28 million in regulatory, launch and sales milestones, plus royalties on future net sales.
About Apricus Biosciences, Inc.
Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus’ commercial product, Vitaros ®, for the treatment of erectile dysfunction, is approved in Europe and Canada and is being commercialized in several countries in Europe. In September 2015, Apricus in-licensed the U.S. development and commercialization rights for Vitaros from Allergan. Apricus’ marketing partners for Vitaros include Recordati Ireland Ltd. (Recordati S.p.A.), Ferring International Center S.A. (Ferring Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV and Elis Pharmaceuticals Ltd. Apricus currently has one active product candidate, RayVa ™, its product candidate for the treatment of the circulatory disorder Raynaud’s phenomenon.