DGAP-News: Apricus Biosciences to Own Revenue Generating Leading French Drug Sales&Marketing Company
(firmenpresse) - Apricus Biosciences, Inc.
20.06.2012 22:01
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Ownership of Finesco-Scomedica will allow Apricus Bio to directly launch
Vitaros(r) and its other products in France, Europe's second-largest drug market
Conference Call/Webcast to be Held Wednesday, June 20, 2012 at 5:15 PM ET
SAN DIEGO, 2012-06-20 22:01 CEST (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc.
('Apricus Bio') (Nasdaq:APRI) (www.apricusbio.com) today announced that it has
agreed to accept, by way of a share contribution, ownership of the shares of
Finesco, the French parent and holding company of Scomedica ('Scomedica'), a
leading French healthcare contract sales and marketing organization in
anticipation of the approval of Apricus Bio's Vitaros(r) for erectile dysfunction
('ED') in Europe.
Scomedica is a private company with 80 pharmaceutical sales representatives
that have successfully marketed drugs in France for global pharmaceutical
companies like Novartis--with 2011 annual revenues of approximately [Eur]8 million
($10.1 million). More importantly, Apricus Bio does not intend to continue
using Scomedica as solely a contract sales force, but intends to also use its
French sales force as a base for the Company's commercial operations in Europe,
starting with the launch of Vitaros(r) for ED when approved. Bringing Finesco and
Scomedica into the Apricus Bio family of companies will enable the Company to
bring its own drugs and additional partnered drugs to the key French market to
build a strong pipeline in this country.
'Scomedica's large and experienced sales team gives us the ability to launch
products, including Vitaros(r) for ED into one of the world's top markets for
pharmaceuticals,' said Dr. Bassam Damaj, President and Chief Executive Officer
of Apricus Bio. 'Specifically for Vitaros(r), we intend to market the drug
ourselves starting next year in France and we currently expect that at our peak
we may capture approximately 30% of the ED market in that country if the drug
is approved.
According to IMS Health, the ED market in France is one of the largest in
Europe, at [Eur]130 million ($163.8 million) in 2010. 'This transaction allows us
to develop an organization that will recognize the drug's full commercial
potential in one of the largest ED markets in Europe, delivering significant
added value to our shareholders,' said Dr. Damaj.
Apricus will also explore registration and/or commercialization of its other
products in the French market, including Granisol(r), NitroMist(tm), Femprox(tm) and
MycoVa(r). In addition, the Company is in negotiations for additional products to
sell in the French market and currently expects to market and sell at least 5
marketed products in France by 2014.
Moreover, Apricus Bio believes that its ability to sell drugs in France will
make it easier for the Company to enter other European markets. 'The French
market is a great stepping stone for our commercial operations into all of
Europe,' explained Damaj.
Under the terms of the agreement, Finesco's existing shareholders will
contribute to Apricus Bio 100% of the outstanding common stock of Finesco in
exchange for newly issued shares of Apricus Bio common stock valued at [Eur]7
million ($8.8 million USD) at the closing, followed by additional newly issued
shares worth approximately [Eur]1.8 ($2.3 million USD) in the first quarter of
2013, if Scomedica achieves certain revenue milestones during 2012. Finesco and
Scomedica will become wholly-owned subsidiaries of Apricus Bio. The agreement
is subject to customary closing conditions and certain termination provisions
as described therein.
'Scomedica is a proven sales leader in the French healthcare market with a
strong record of success in product launches and marketing campaigns,' said
Gerard Burger, President of Scomedica. 'Our organizations are highly
complementary, and we look forward to working with our new colleagues to
provide best-in-class pharmaceutical marketing for Apricus Bio's deep product
pipeline.'
Conference Call Information
The call can be accessed in the U.S. by dialing 877-407-8031 and outside of the
U.S. by dialing 201-689-8031 and asking the conference operator for the Apricus
Bio Conference Call. The teleconference replay will be available for one week
by dialing in the U.S. 877-660-6853 and outside of the U.S. by dialing
201-612-7415. Replay passcodes 286 and 396566 are both required for playback.
The conference call will also be webcast live at
http://www.investorcalendar.com/IC/CEPage.asp?ID=168939. The webcast replay
will be available for three months.
About Vitaros(r)
Vitaros(r) is a topically delivered formulation of alprostadil combined with
Docecyl 2-N, N-(dimethylamino)-propionate hydrochloride (DDAIP HCl), Apricus'
proprietary NexACT(r) delivery technology, for the treatment of erectile
dysfunction ('ED'). When absorbed through the skin, alprostadil, a vasodilator,
directly boosts blood flow, thereby causing an erection.
Vitaros(r) differs from oral medications in two ways. First, it is applied
locally, directly to the penis as a cream, instead of administered orally and
absorbed systemically. This topical application helps to reduce side effects
and provides men who cannot take the existing oral medications a
patient-friendly alternative. Second, clinical studies have shown that Vitaros(r)
works on average in approximately 15 minutes, compared to a reported onset time
of 30 minutes, or longer, for oral medications.
About FINESCO/Scomedica
FINESCO is the French holding company of Scomedica. Scomedica is a leading
French pharmaceutical sales and marketing company specializing in product
positioning, product launch, marketing and sales for primary care physicians
and specialists. Scomedica has been leading successful pharmaceutical sales
campaigns in France for nearly 20 years and is located near Paris, France. For
further information on FINESCO and Scomedica, visit
http://www.finesco-medica.com.
About Apricus Biosciences, Inc.
Apricus Bio is a San Diego-based revenue-generating pharmaceutical company,
with commercial products and a broad pipeline across numerous therapeutic
classes.
Revenues and growth are driven from the sales of the Company's commercial
products through its Apricus Pharmaceuticals USA, Inc. and NexMed (USA), Inc.
subsidiaries and through out-licensing in certain territories of its product
pipeline and NexACT(r) technology.
Apricus Bio's current NexACT(r) pipeline includes Vitaros(r), approved in Canada
for the treatment of erectile dysfunction, as well as compounds in development
from pre-clinical through pre-registration currently focused on Sexual
Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Diabetes
and Consumer Healthcare.
Apricus Bio currently markets Totect(r) (dexrazoxane HCl), the only drug approved
in the US for the treatment of anthracycline extravasation. The Company also
plans to market in the U.S. or certain other countries the following products:
(a) Granisol(r) (granisetron HCI) oral solution, the only FDA-approved, oral,
ready-to-use liquid solution of granisetron, (b) Aquoral(tm), an FDA-cleared,
prescription-only spray for the treatment of Xerostomia (the medical term for
dry mouth due to a lack of saliva) and (c) NitroMist(r) (nitroglycerin sublingual
spray), an FDA-approved nitrate vasodilator indicated for acute relief of an
attack or acute prophylaxis of angina pectoris (chest pain) due to coronary
artery disease (narrowing of the blood vessels that supply blood to the heart).
The Company also expects to develop and/or acquire and then bring to market
additional pharmaceutical products in areas of care that will benefit patient
needs worldwide.
For further information on Apricus Bio, visit http://www.apricusbio.com, and
for information on its subsidiary please visit http://www.nexmedusa.com. You
can also receive information at http://twitter.com/apricusbio.
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to successfully integrate Finesco
and Scomedica into the Company and further develop its products and product
candidates, to have its products and product candidates such as Vitaros(r),
Femprox(r) and MycoVa(tm) receive patent protection and be approved by relevant
regulatory authorities, to successfully commercialize such products as Totect(r),
Granisol(r), Aquoral(tm) and NitroMist(tm) and NexACT(r) product candidates and drug
delivery technology and to achieve its development, commercialization and
financial goals. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the risk
factors set forth in the Company's most recent annual report on Form 10-K,
subsequent quarterly reports filed on Form 10-Q and other filings made with the
SEC. Copies of these reports are available from the SEC's website or without
charge from the Company.
This press release does not constitute an offer to sell or solicitation of an
offer to buy any securities. The shares to be contributed by Apricus
Biosciences have not been registered under the Securities Act of 1933, as
amended, and are to be issued, subject to the satisfaction or waiver of the
conditions to issuance, pursuant to exemptions from the registration provisions
of such Act. The shares may not be re-offered or resold in the United States
absent registration or an applicable exemption from registration requirements.
CONTACT: Apricus Bio Investor Relations:
David Pitts
Argot Partners
212-600-1902
david(at)argotpartners.com
News Source: NASDAQ OMX
20.06.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Apricus Biosciences, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901429525
WKN:
End of Announcement DGAP News-Service
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Datum: 20.06.2012 - 22:01 Uhr
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