7:03AM Auxilium Pharma announces license agreement for the marketing rights to STENDRA in the US and Canada (AUXL) 17.20 : Co announced the signing of an agreement with VIVUS (VVUS) providing Auxilium with the exclusive right to market VIVUS's product, STENDRA (avanafil), in the United States and Canada. The parties also simultaneously signed a Commercial Supply Agreement pursuant to which VIVUS will be initially responsible for the manufacture and supply of STENDRA to Auxilium. STENDRA is an oral therapy approved by the FDA for the treatment of erectile dysfunction.
Under the license, Auxilium will pay VIVUS a one-time license fee of $30 mln. Auxilium may make a $15 mln regulatory milestone payment to VIVUS if the FDA approves the STENDRA label to reflect a 15 minute or less onset of action efficacy claim and up to $255 mln in potential milestone payments based on the achievement of certain sales targets. VIVUS will also receive royalties on product sales. Auxilium expects to begin its commercial launch of STENDRA by the end of 2013, first with shipments of STENDRA in Dec 2013, followed by promotional activities in early Jan 2014 by its PRIMERA sales force. The co also plans to leverage digital media to reach a broader audience online. Auxilium believes that the transaction will be accretive in 2015.
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