Apricus Biosciences, Inc. (APRI) announced the launch of its sole approved product, Vitaros in Germany. Vitaros is an on-demand topical cream formulation for treating patients suffering from erectile dysfunction ED).
In Jun 2013, Vitaros had received European approval through the European Decentralized Procedure (DCP). Subsequently, the company gained national phase approval for Vitaros in France, Germany, Ireland, Italy, the Netherlands, Sweden, the UK and Belgium.
The launch of Vitaros in Germany (one of the largest ED markets in the EU) marks the company’s third launch in the last three months. Apricus launched Vitaros in the UK (commercialized by Takeda) in June and in Sweden (commercialized by Sandoz) earlier this month.
Vitaros will be commercialized in Germany by Hexal AG, an affiliate of Sandoz, a Novartis (NVS) company.
Apricus has a licensing deal with Sandoz for the commercialization of Vitaros in Germany, Austria, Belgium, Denmark, Finland, Iceland, Luxemburg, the Netherlands, Norway, Sweden and Switzerland.
Apricus has partnerships with several companies for the commercialization of Vitaros. Vitaros is currently licensed to companies like Abbott Laboratories (ABT), Sandoz, Recordati, Bracco and Majorelle among others. The company expects to earn milestone revenues of more than $200 million and tiered double digit royalties under its partnership agreements.
Apricus expects additional product launches by partners throughout 2014.
Meanwhile, Apricus is developing a second-generation Vitaros with a stabilized dosage formulation due to which the drug can be stored at room temperature. If successfully developed, this second-generation Vitaros is expected to be available in 2016.
Apricus carries a Zacks Rank #3 (Hold). A better-ranked stock in the pharmaceutical sector is Endo International plc (ENDP), carrying a Zacks Rank #1 (Strong Buy).
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