Endo pulls out of deals with Acerus and VIVAS

Canadian drugmaker Acerus Pharmaceuticals (TSX: ASP) has announced that the agreement with Endo Ventures Bermuda, an affiliate of Ireland-incorporated Endo International (Nasdaq: ENDO), relating to the commercialization of Natesto, in the USA and Mexico will be terminated, effective June 30, 2016.

As per the terms of the agreement with Acerus, Endo will continue to sell and distribute Natesto, a testosterone replacement therapy, in the USA until the effective date of termination. Under the accord signed in 2014 between Endo and Acerus (then trading under its former name Trimel Pharmaceutical), the latter was eligible for $25 million up front, up to $165 million based on regulatory and sales milestones, and a $5 million prepaid inventory deposit upon closing of the deal (The Pharma Letter November 24, 2014).

“While we are disappointed with Endo’s previously announced strategic business decision to realign their US branded resources from urology retail to their pain franchise, we are fully committed to the continued success of Natesto in the US,” said Tom Rossi, president and chief executive of Acerus.