Apricus, Sandoz To Terminate License For Vitaros; Expands Tie-up With Ferring

(RTTNews) - Apricus Biosciences, Inc. (APRI), Monday said it has agreed with Sandoz to mutually terminate license agreement and to expand its exclusive distribution agreement with Ferring Pharmaceuticals, for the commercialization of Vitaros, a topical on-demand treatment for erectile dysfunction. All three parties have entered into a services agreement whereby the existing marketing authorizations will be transferred to Ferring. Additional country approvals also will be sought by Ferring.

Apricus will be eligible to receive up to $34 million in combined upfront, regulatory, launch and sales milestone payments, plus high single-digit to low double-digit royalties based on Ferring's net sales in the territory.

The expanded agreement with Ferring pharma includes Germany, Austria, Belgium, Denmark, Finland, Iceland, Luxembourg, Norway, the Netherlands, Sweden, Switzerland, Malaysia, Indonesia, the Philippines, Thailand, Taiwan, Vietnam, Hong Kong, Singapore and Korea. Earlier, it has signed with Ferring in Latin America in 2015, and recently in U.K.