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DGAP-News: Apricus Biosciences Expands Patent Coverage in Mexico for Its Erectile Dysfunction Drug, Vitaros(R)
ID: 378522
(firmenpresse) - Apricus Biosciences, Inc.
31.03.2011 16:41
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Current Annual Market for Erectile Dysfunction in Mexico is Estimated at
Between $175 to $200 Million
SAN DIEGO, 2011-03-31 16:41 CEST (GLOBE NEWSWIRE) --Apricus Biosciences, Inc. ('Apricus Bio') (Nasdaq:APRI), announced today that
the Mexican Patent Office ('MPO') will grant an additional patent for Vitaros(r),
the Company's topical alprostadil-based cream for the treatment of erectile
dysfunction ('ED').
The MPO issued a 'notice of allowance' for the patent entitled, 'Topical
Stabilized Prostaglandin E Compound Dosage Forms,' which is expected to be
granted within a few months. Upon receipt, the new patent will provide Apricus
Bio patent protection for Vitaros(r) for ED until 2026. It will be the sixth
patent that Apricus has received in Mexico for the technology underlying the
product for this indication.
'The issuance of this patent provides strong intellectual property protection
for Vitaros(r) for erectile dysfunction and we believe it enhances our product's
present value,' said Dr. Bassam Damaj, President and Chief Executive Officer of
Apricus Bio. 'Vitaros(r) for ED is now protected in multiple countries by issued
patents and we are continuing our efforts to expand our patent portfolio for
this important medical innovation. We are also engaged in discussions with
potential partners in Latin America to license and commercialize Vitaros(r) for
ED in certain countries in that region.'
About Vitaros(r) for Erectile Dysfunction
Vitaros(r), for ED, has been approved by Health Canada for marketing and sales in
that country and Apricus Bio is currently in discussions with major
pharmaceutical companies to license and commercialize the product in Canada. In
addition, the Company has licensing and commercialization agreements with
companies for future marketing and sales of Vitaros(r) for this indication in
Italy, the Gulf Countries and parts of the Middle East and also Israel and the
Palestinian territories and is in discussions with potential partners in other
international markets.
The Vitaros(r) product for ED incorporates Apricus Bio's proprietary postdermal
and permeation enhancer using its NexACT(r) technology. It is a topically-applied
cream that the Company believes may be one of the fastest acting drugs
currently approved for ED.
Apricus Bio feels that Vitaros(r) has many advantages over other currently
marketed products for the treatment of ED. First, the Company believes that it
is 'on-demand,' in that patients normally see results more quickly than with
oral drugs such as Viagra(r), Cialis(r) and Levitra(r). Second, there are no known
restrictions on use of Vitaros(r) for ED by patients with cardiac, hypertension
or prostectomy issues, as there appear to be with the oral drugs for erectile
dysfunction such as Viagra(r), Cialis(r) and Levitra(r) for example, for patients who
have cardiac risk and are taking drugs that contain nitrates or alpha blockers.
Thus, it is the Company's belief that patients who have prostectomies or with
hypertension are not allowed to use those drugs. Third, the oral drugs appear
to have a lesser effect with patients who take satomines or drink alcohol. With
Vitaros(r), there are no restrictions as to what a patient can eat or drink while
using the product. Viagra(r) is a registered trademark of Pfizer, Inc.; Cialis(r)
is a registered trademark of Lily USA, LLC; and Levitra(r) is a registered
trademark of Bayer Corporation.
Erectile dysfunction is estimated to affect approximately 50% of the male
population between the ages of 18 and 49 in Latin America increasing to 70%
among men aged 50 years or older (Becher and Glina 2002). According to 2010
data from IMS, the size of the market for ED drugs in Mexico is currently
estimated as being between $175 million to $200 million per year.
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has
leveraged the flexibility of its clinically-validated NexACT(r) drug delivery
technology to enable multi-route administration of new and improved compounds
across numerous therapeutic classes.
Revenues and growth are driven from out-licensing of this technology for the
development and commercialization of such compounds to pharmaceutical and
biotechnology companies worldwide. In addition, the Company is seeking to
monetize its existing product pipeline, including its first product, Vitaros(r),
approved in Canada for the treatment of erectile dysfunction, which is
currently expected to be available on the Canadian market in 2011, as well as
compounds in development from pre-clinical through Phase III, currently focused
on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain,
Anti-Infectives, Diabetes and Cosmeceuticals among others.
For further information on Apricus Bio, visit http://www.apricusbio.com and for
information on its subsidiaries please visit www.nexmedusa.com or
www.bio-quant.com. You can also receive information at
http://twitter.com/apricusbio and http://facebook.com/apricusbio.
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to obtain and/or develop products
from its patented technology and to successfully enter into partnership,
licensing or commercialization agreements for its Vitaros(r) product for erectile
dysfunction and its NexACT(r) platform technology. Readers are cautioned not to
place undue reliance on these forward-looking statements as actual results
could differ materially from the forward-looking statements contained herein.
Readers are urged to read the risk factors set forth in the Company's most
recent annual report on Form 10-K, subsequent quarterly reports filed on Form
10-Q and other filings made with the SEC. Copies of these reports are available
from the SEC's website or without charge from the Company.
CONTACT: Apricus Biosciences, Inc.
Edward Cox, V.P.
Investor Relations&Corporate Development, Apricus Bio, Inc.
(858) 848-4249
ecox(at)apricusbio.com
Apricus Bio Investor Relations
Paula Schwartz
Rx Communications Group, LLC
(917) 322-2216
pschwartz(at)rxir.com
News Source: NASDAQ OMX
31.03.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Apricus Biosciences, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901429525
WKN:
End of Announcement DGAP News-Service
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Datum: 31.03.2011 - 16:41 Uhr
Sprache: Deutsch
News-ID 378522
Anzahl Zeichen: 8442
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