Apricus' Vitaros launched in the Czech Republic and Slovakia by Recordati

US biopharma firm Apricus Biosciences (Nasdaq: APRI) has announced the launch of Vitaros (alprostadil), Apricus’ novel on-demand topical cream for the treatment of erectile dysfunction (ED), in the Czech Republic and Slovakia by Italian drugmaker Recordati (RC: MI).

Richard Pascoe, chief executive of Apricus, commented: “We are pleased to announce the launch of Vitaros in these important ED markets by our partner Recordati.  With these launches, Vitaros is now commercially available in nine European countries.  Moreover, we expect additional approvals and product launches later this year and early next year by our commercialization partners.  Looking forward, our key strategic goals continue to be achieving profitability through Vitaros revenue growth and obtaining Vitaros FDA approval in the United States in 2017.”

In February 2014, Apricus signed an exclusive license agreement with Recordati to market Vitaros in Spain, Russia, Turkey, Ireland and certain other European and African countries and received an upfront payment of $2.4 million. Under the terms of the agreement, Apricus is eligible to receive up to around $39.7 million from Recordati in additional milestones, plus double-digit tiered royalties in the ten to twenty percent range based on Recordati’s net sales of the product in the territory.