It was announced today, that the partner of Apricus Bioscience Inc (NASDAQ:APRI), Astellas Pharma Inc. (TYO:5403), Ferris Pharmaceuticals has been granted commercialisation permission for the distribution of Vitaros in Mexico.
Vitaros is a medicinal cream, which was developed, with the primary function of treating patients, who are suffering from erectile dysfunction. So far, this medicine seems to be working well, which is proven by the 26 countries, which has authorised the commercialisation of the product.
More details about the approval and selling of Vitaros
Although the VItaros drug, has taken years to perfect, both companies have worked diligently for global use of the manufactured medicinal cream.
In a statement, regarding the matter, the Chief Executive Officer of Apricus, Richard Pascoe, stated, “We are very pleased that Ferring has received its second approval for Vitaros in Latin America. Moreover, we look forward to Ferring’s launch of Vitaros in Latin America throughout the year.”
However, in this statement, nor any other, there has yet to be any mention of exact specifications, regarding either the price or release date, to which consumers can expect to be enabled to purchase this medicinal cream.
What does the Ferring And Apricus Partnership Entail
Apricus recently extended the exclusive Vitaros operations deal with Ferring’s to countries based throughout the European Union, as well as Asia. However, based on the terms of their negotiations, Apricus has benefitted with $4.5 million in upfront payments.
Furthermore, Apricus is entitled to regular milestone payments of $1.6 million, as well as an additional $28 million, regulatory launch and sales milestones. This will also encompass Apricus receiving royalties on any future net sales.
Currently, Vitaros is available in Mexico, Austria, Czech Republic, Denmark, Belgium, Canada, Finland, Germany, France, Greece, Iceland, Italy, Lebanon, Luxembourg, Netherlands, Poland, Portugal, Romania, United Kingdom, as well as a few other destinations.
Apricus stock closed on Wednesday at $2.86, after rising up by $1.35 or 89.40%