Apricus (APRI) Grants Abbott Labs Ltd. Exclusive Vitaros Distribution Agreement in Canada
Tweet
Share
E-mailGet Alerts APRI Hot Sheet
Join SI Premium – FREE
Apricus Biosciences, Inc. (Nasdaq: APRI) has entered into an exclusive licensing agreement granting Abbott Laboratories Limited the exclusive rights to market Vitaros (alprostadil), Apricus Bio's treatment for erectile dysfunction, in Canada. "We are optimistic about the potential of the technology, effectiveness and market potential of Vitaros®," said Dr. Bassam Damaj, Chairman, President and Chief Executive Officer of Apricus Bio.
Under the terms of agreement, Abbott will commercialize and market Vitaros® in Canada where the drug was approved by Health Canada in late 2010, with launch anticipated in 2012. Over the lifetime of the deal, Apricus Bio will receive up to approximately $16 million in up-front, regulatory and sales milestone payments, plus tiered royalty payments based on Abbott's sales of the product in Canada.
Under the terms of agreement, Abbott will commercialize and market Vitaros® in Canada where the drug was approved by Health Canada in late 2010, with launch anticipated in 2012. Over the lifetime of the deal, Apricus Bio will receive up to approximately $16 million in up-front, regulatory and sales milestone payments, plus tiered royalty payments based on Abbott's sales of the product in Canada.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sky Quarry names Heidi Bowman as CFO
- Sky Century Investment responds to OTC Markets stock promotion inquiry
- BJ's Wholesale Club plans new location in Tyler, Texas
Create E-mail Alert Related Categories
Corporate News, FDASign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
