TORONTO--(BUSINESS WIRE)--Acerus Pharmaceuticals Corporation (TSX:ASP) (“Acerus” or the “Company”) today announced the launch of URIVARX® in Canada less than 3 months after securing the exclusive Canadian rights to the product from Innovus Pharmaceuticals, Inc. (OTCQB: INNV) (“Innovus”) earlier in the year.
Acerus had previously planned for the Canadian launch of URIVARX® in the second half of 2018, but the Company has arranged for the product to be available in Canada via the Innovus supply chain. This has helped Acerus, through its Innovus partner, to initiate direct to consumer campaigns and generate meaningful revenues in the first quarter. The Company intends to build on this solid start while its OTX platform and infrastructure are being implemented. Acerus expects its multi-level commercial platform to be fully implemented in the coming months, which will also enable its expanded commercial team to proactively detail URIVARX® to physicians.
“We are extremely pleased with the URIVARX® revenues achieved thus far in 2018. Thanks to the support of our partner Innovus, we have been successful in rapidly implementing marketing programs and securing Canadian sales in the first quarter. We expect URIVARX® sales to accelerate later this year after our OTX platform is fully operational,” said Tricia Symmes, Chief Operating Officer of Acerus.
“While we continue to see robust quarter over quarter growth of NATESTO® sales in both Canada and the US, our commercial success also depends on our ability to generate incremental revenues from new products in Canada. Having URIVARX® contribute to our top line just a few months after in-licensing the product from Innovus is a clear testament of our relentless commitment to achieve our financial targets” added Luc Mainville, interim president and Chief Executive Officer of Acerus.
Acerus Pharmaceuticals Corporation is a Canadian-based specialty pharmaceutical company focused on the development, manufacture, marketing and distribution of innovative, branded products that improve patient experience, with a primary focus in the field of men’s and women’s health. The Company commercializes its products via its own salesforce in Canada, and through a global network of licensed distributors in the U.S. and other territories.
Acerus currently has three marketed products: ESTRACE®, a product for the symptomatic relief of menopausal symptoms, is commercialized in Canada; NATESTO®, the first and only testosterone nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism, is commercialized in Canada and the U.S.; and URIVARX®, a Natural Health Product that helps reduce symptoms of hyperactive bladder such as daytime urinary frequency, urgency and nocturia. URIVARX® was recently approved by Health Canada and will be offered over-the-counter to Canadians dealing with such symptoms. Also, NATESTO® has been licensed for distribution in 29 additional countries worldwide. Marketing approvals in jurisdictions outside of North America are expected to take place over the course of the coming years. Acerus’ pipeline includes five innovative products: STENDRA®, a new chemical entity PDE5 inhibitor for the treatment of erectile dysfunction, which has been approved by the US FDA and the EU EMA and is commercialized in the US under the trade name STENDRA® and in the EU under the trade name SPEDRA®; ELEGANT™ Vaginal Moisturizer, which provides comfort to women suffering from vaginal dryness, and ELEGANT™ pH, which is a pH balanced vaginal product; GYNOFLOR™, an ultra-low dose vaginal estrogen combined with a probiotic, for which a NDS has been filed in Canada for the treatment of vaginal atrophy, restoration of vaginal flora and treatment of certain vaginal infections; and TEFINA™, a clinical stage product aimed at addressing a significant unmet need for women with female sexual dysfunction. Finally, Acerus is working on expanding its product portfolio by leveraging its proprietary delivery systems, patents and formulation expertise. As such, Acerus has a number of products in various stage of development. One of these projects relates to cannabinoids (whether synthetic or naturally derived cannabinoids) to be delivered intranasally to patients, which may have multiple possible therapeutic applications (the “Cannabinoids Initiative”). Acerus has filed patent applications on the Cannabinoids Initiative, is currently working on setting up a series of pharmacokinetic clinical trials and is actively looking at potential partnering transactions for these initiatives.
Notice regarding forward-looking statements
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information are assumptions regarding our future operational results. These assumptions, although considered reasonable by the company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual performance of the company is subject to a number of risks and uncertainties, including with respect to the commercial success of UriVarx® in Canada, and could differ materially from what is currently expected as set out above. For more exhaustive information on these risks and uncertainties you should refer to our annual information form dated March 20, 2018 that is available at www.sedar.com. Forward-looking information contained in this press release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update this information at any particular time, whether as a result of new information, future events or otherwise, except as required by applicable securities law.