Apricus Biosciences, Inc
) recently announced that it has divested Totect and NitroMist.
In Dec 2012, the company had decided to divest its oncology
supportive care business, Apricus Pharmaceuticals.
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Totect, an injectable treatment for anthracycline extravasation,
has been acquired by Biocodex Laboratories, a French
pharmaceutical company. Apricus sold the commercialization rights
for Totect in North America and South America. As per the
agreement, Apricus received an upfront payment and will receive
royalties on net sales of Totect through 2016.
NitroMist is indicated for acute relief of an attack or acute
prophylaxis of angina pectoris due to coronary artery disease.
The product has been acquired by Mist Pharmaceuticals, a
specialty pharmaceutical company. Apricus sold them the
commercialization and marketing rights of NitroMist in all
countries outside the U.S., Canada and Mexico.
We are positive on the divestiture of Totect and NitroMist as
this will help Apricus focus on its core products. Divesting
non-core assets is in line with the company's strategic decision
to focus its resources on Vitaros and Femprox. Apricus wants to
invest in the commercialization of Vitaros, which is used for the
treatment of erectile dysfunction, and also for the development
of Femprox for the potential treatment of female sexual arousal
Apricus carries a Zacks Rank #3 (Hold). Currently, companies like
WuXi Pharma Tech (Cayman) Inc.
) look more attractive with a Zacks Rank #1 (Strong Buy).