Apricus Biosciences Announces Completion of Transfer of the United Kingdom Marketing Authorization for Vitaros® to Ferring Pharmaceuticals
(Thomson Reuters ONE) -
SAN DIEGO, Aug. 15, 2016 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc.
(Nasdaq:APRI), 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(TM), its product candidate for the treatment of the circulatory disorder
Raynaud's phenomenon.
For further information on Apricus, visit http://www.apricusbio.com.
*Vitaros® is a registered trademark of NexMed International Limited. Such
trademark is registered in certain countries throughout the world and pending
registration in the United States.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, as amended. Statements in this press
release that are not purely historical are forward-looking statements. Such
forward-looking statements include, among other things: references to the timing
of planned launches or re-launches of Vitaros® in various countries by Apricus'
commercial partners, including the United Kingdom, the timing of transfers of
any marketing authorizations, and the potential for Apricus to receive future
milestone and royalty revenue. Actual results could differ from those projected
in any forward-looking statements due to a variety of reasons that are outside
of Apricus' control, including, but not limited to: Apricus' ability to have its
product Vitaros be approved by relevant regulatory authorities in additional
countries; Apricus' dependence on its commercial partners to carry out the
commercial launch or re-launch of Vitaros in the United Kingdom and other
territories and the potential for delays in the timing of commercial launches or
re-launches; Apricus' dependence on its former commercial partners to complete
the marketing authorization transfers; competition in the ED market and other
markets in which Apricus and its partners operate; and market conditions. These
forward-looking statements are made as of the date of this press release, and
Apricus assumes no obligation to update the forward-looking statements, or to
update the reasons why actual results could differ from those projected in the
forward-looking statements. Readers are urged to read the risk factors set forth
in Apricus' 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 at www.sec.gov or without charge from
Apricus.
CONTACT:
Matthew Beck
mbeck(at)troutgroup.com
The Trout Group
(646) 378-2933
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Apricus Biosciences, Inc. via GlobeNewswire
[HUG#2035167]
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 489142
Anzahl Zeichen: 5783
contact information:
Town:
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Kategorie:
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