Apricus in-licenses US rights to ED drug from Allergan

Shares of USA-based Apricus Biosciences (Nasdaq: APRI) gained 10.4% to $1.88 in early trading, as the company revealed it has licensed the US development and commercialization rights for Vitaros (alprostadil) from Allergan (NYSE: ACT).

Under the agreement, Apricus will be responsible for all Vitaros development efforts in the USA. Upon the Food and Drug Administration's acceptance of a New Drug Application for Vitaros, Allergan may elect to exercise its one time opt-in right to assume all future marketing and selling activities in the USA in exchange for certain financial considerations.

Vitaros is a novel, on-demand topical cream for the treatment of erectile dysfunction (ED) and a new potential entrant into the US ED treatment market. In February 2009, Warner Chilcott, now a subsidiary of Allergan, acquired the US rights to Vitaros from Apricus. Since that time, Vitaros has been approved by the European health authorities and by Health Canada, and is currently being promoted by Apricus' licensees throughout Europe.