Vivus Inc announced that it signed a contract with Italy's Menarini Group worth Eur95 million or US$121.47 million. The deal would allow Vivus Inc to present its erectile dysfunction medicine in Australia, Europe and New Zealand.
Vivus was currently being pressured by its major stockholders due to its marketing.
Menarini, a privately owned corporation, would sell Avanafil as Spedra in Australia, New Zealand and 40 other European nations.
Avanafil was not launched in the United States yet becaue Vivus was unable to find an associate that would sell the drug. The US Food and Drug Administration already consented on selling the drug since 2012.
Vivus would receive an upfront payment worth Eur16 million. The company was also entitled for about Eur79 million in milestone fees including royalties on the sale of Spedra.
The erectile dysfunction drug would be Vivus' second merchandise sold in the market. This was following Qsymia, a weight-loss drug, whose deals failed to reach the expectations of experts.
"FMC's 'plan' - to the extent they have one - appears to revolve solely around doing things that the Vivus board and management team are already doing, 'fixing' things that aren't broken," Vivus said.
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