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
