Apricus Biosciences Announces Approval of Vitaros® for the Treatment of Erectile Dysfunction in Mexico

Ferring Plans to Launch in Mexico and Argentina During the Second Quarter 2017

SAN DIEGO, Jan. 18, 2017 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. (Nasdaq:APRI), a biopharmaceutical company advancing innovative medicines in urology and rheumatology, today announced that Mexico has granted Apricus' commercialization partner, Ferring Pharmaceuticals, market approval for Vitaros®, an on-demand topical cream indicated for the treatment of patients with erectile dysfunction.

This is the twenty-sixth country in which the product has been approved, including Argentina, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Lebanon, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland and the United Kingdom.

"We are very pleased that Ferring has received its second approval for Vitaros in Latin America," said Richard Pascoe, Chief Executive Officer of Apricus. "Moreover, we look forward to Ferring's launches of Vitaros in Latin America throughout the year, in addition to the portfolio of countries across the EU they have the rights to as well.  Again, congratulations to the Ferring team for their continued commitment to building the Vitaros global brand."

Last year, the Company expanded its exclusive Vitaros distribution agreement with Ferring in Latin America to include Germany, Austria, Belgium, Denmark, Finland, Iceland, Luxembourg, Norway, the Netherlands, Sweden, Switzerland and certain countries in Asia (previously Sandoz's territories), the United Kingdom (previously Takeda's territory) and Korea.  Under the terms of the agreement, Apricus has received a total of $4.5 million in upfront payments from Ferring, in addition to a regulatory milestone payment of $1.6 million.  Apricus is eligible to receive up to an additional $28 million in regulatory, launch and sales milestones, plus royalties on future net sales.

About Apricus Biosciences, Inc.

Apricus Biosciences, Inc. (APRI) is a biopharmaceutical company advancing innovative medicines in urology and rheumatology. Apricus' commercial product, Vitaros®*, for the treatment of erectile dysfunction, is approved in Canada and certain countries in Europe, Latin America and the Middle East and is being commercialized in certain countries in Europe and the Middle East. In September 2015, Apricus in-licensed the U.S. development and commercialization rights for Vitaros from Allergan. Apricus' marketing partners for Vitaros include Recordati Ireland Ltd. (Recordati), Ferring International Center S.A. (Ferring Pharmaceuticals), Laboratoires Majorelle, Bracco S.p.A., Mylan NV and Elis Pharmaceuticals Ltd.  Apricus currently has one active product candidate, RayVa(TM), its product candidate for the treatment of the circulatory disorder Raynaud's phenomenon.