Apricus Biosciences, Inc. (Nasdaq:APRI), based in San Diego, announced today that Dr. Bassam Damaj, Ph.D., Chairman, President and Chief Executive Officer, is now appearing in a series of online educational videos focused on its newly approved erectile dysfunction drug, Vitaros ®, which was approved by Health Canada in November 2010. The video series can be seen on the company’s website. The company stated that the video series was created to provide answers to commonly asked questions about the newly approved drug, which is the first approved erectile dysfunction treatment in the western hemisphere that is applied topically.
According to Dr. Damaj, “The educational video series provides clear, concise answers to the general public about Apricus Bio’s recently approved erectile dysfunction drug, Vitaros, a proprietary, topically-applied , first-line therapy for erectile dysfunction. The videos consist of a series of one-on-one news interviews with me, regarding the company’s plans, timetables, and marketing prospects for Vitaros.”
In one of the interviews, Dr. Damaj states that Apricus Bio is currently seeking to establish partnerships on both country-specific and regional terms, with the goal of entering into a number of licensing and partnership deals in 2011. Dr. Damaj also indicated that the company hopes to sell Vitaros in Canada through a partnership that is targeted for the second or third quarter of 2011. He stated that the company intends to file for marketing authorization in Europe in April of 2011. Dr. Damaj also stated that Warner Chilcott, which owns rights to Vitaros in the U.S., continues to pursue approval of the drug through the U.S. Food and Drug Administration.
Dr. Damaj stated that, according to 2009 IMS data, the ex-U.S. market size for sales of approved erectile dysfunction drugs is approximately $2 billion annually. He also noted that, in a survey conducted on behalf of the company by D2 Market Research, 65 urologists surveyed stated that they would likely prescribe Vitaros to approximately 27 percent of their current patients who suffer from erectile dysfunction. Dr. Damaj further stated that projections for the size of the ex-U.S. market for approved drugs to treat erectile dysfunction do not take into account patients who cannot take current erectile dysfunction drugs due to cardiac conditions, hypertension, diabetes, obesity, and prostatectomy or do not respond to existing oral medications.