There are two milestone payments in the 4th Quarter:
MENLO PARK, Calif.--(BW HealthWire)--Oct. 30, 1997--VIVUS, Inc. (NASDAQ:VVUS) today announced that the Company has signed an international marketing agreement with Janssen Pharmaceutica International, a subsidiary of Johnson & Johnson.
This agreement for MUSE(R) (alprostadil), VIVUS' treatment for erectile dysfunction, amends the existing agreement with Janssen to include the Middle East, Russia, the Indian sub-continent, and Africa.
VIVUS will receive a $2 million payment upon the execution of the agreement and additional payments will be made in the event that certain milestones are achieved. VIVUS will retain all proprietary rights to the product and will manufacture the product. Janssen will market, sell and distribute MUSE throughout the Middle East, Russia, the Indian sub-continent, and Africa, once the required regulatory approvals are obtained.
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MENLO PARK, Calif.--(BW HealthWire)--Dec. 1, 1997--VIVUS, Inc. (NASDAQ:VVUS - news) today announced that MUSE(R) (alprostadil), the Company's treatment for erectile dysfunction, has received authorization from the Medicines Control Agency to market MUSE in the United Kingdom.
Astra Pharmaceuticals Ltd. based in Kings Langley, England, will market the product in the U.K. under a distribution agreement between Astra AB of Sweden and VIVUS International.
MUSE (alprostadil), a treatment for erectile dysfunction, is a pre-filled, single-use plastic applicator containing the drug alprostadil, a medication that increases penile blood flow. MUSE, launched in the U.S. in January 1997, had U.S. product sales of over $100 million in the first nine months of 1997.
''Astra U.K. will soon launch MUSE in the U.K. as the lead market in the European Union (EU). We anticipate registration of the product in most of the EU countries during 1998,'' said an Astra spokesperson.
The U.K. approval triggers a $2 million milestone payment to VIVUS from Astra under the terms of an agreement with Astra signed in May 1996. Astra will market and distribute MUSE in Europe, Australia and New Zealand as well as the South and Central American countries, once individual country approvals are obtained.
My next post gives an estimate of fourth quarter P&L based on Q3 results and present news.
Zebra |
