Apricus Biosciences, Inc. (NASDAQ: APRI) is a
biopharmaceutical company advancing innovative medicines in urology and
rheumatology. The company’s lead product, Vitaros®, is approved in Europe and
Canada for the treatment of erectile dysfunction and is currently being commercialized
in several European countries. In addition, Apricus’s product pipeline includes
Fispemifene for the treatment of secondary hypogonadism, chronic prostatitis
and lower urinary tract symptoms in men and RayVa™ for the treatment of
Raynaud’s phenomenon.
Through the commercialization of Vitaros, Apricus is
establishing a foothold in one of the biopharmaceutical industry’s most
consistently performing sectors. According to Medtech Insight, erectile
dysfunction affects an estimated 150 million men globally, and that total is
expected to double by 2030. As a result, the market for these drugs has grown
to over $4.2 billion. For Apricus, this could provide a significant opportunity
to grow within the industry as it continues to expand the commercialization of
Vitaros.
Vitaros is a locally-applied topical cream, allowing the
product to differentiate itself from the phosphodiesterase inhibitors currently
on the market, which are distributed in tablet form. As a topical cream,
Vitaros has been shown to provide rapid onset benefits with significant
efficacy and a favorable safety profile.
In May, the company took a major step toward continued
growth through the launch of its novel treatment in France. This launch, in
addition to its recent launch in Spain, brings the total number of European
markets in which Vitaros is now commercially available to six. In the first
quarter of 2015, Apricus prepared to build on these efforts by raising $11
million in cash from financing activities, as well as establishing revenue of
$475,000. In the coming months, Apricus will look to grow revenue in penetrated
markets while continuing to expand into other European countries.
“[W]e continue to be pleased with our commercial partners’
efforts to establish Vitaros as the erectile dysfunction treatment of choice in
Europe,” Richard Pascoe, chief executive officer of Apricus, stated in a news
release. “[W]e regard Vitaros as a strategic asset with the potential to
generate meaningful long-term revenue for the company.”
For prospective investors, the continued expansion of
Vitaros throughout Europe is a promising step toward sustainable returns moving
forward.
For more information, visit www.apricusbio.com
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