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APRI > SEC Filings for APRI > Form 8-K on 16-Dec-2013All Recent SEC Filings

Show all filings for APRICUS BIOSCIENCES, INC.

Form 8-K for APRICUS BIOSCIENCES, INC.


16-Dec-2013

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement.

On December 12, 2013, Apricus Biosciences, Inc. (the "Company") amended its exclusive license agreement with Hexal AG, an affiliate within the Sandoz Division of the Novartis Group of Companies ("Sandoz"), for the commercialization of Vitaros®, indicated for the treatment of patients with erectile dysfunction. In addition to the in-place collaboration in Germany, this expanded agreement now includes Austria, Belgium, Denmark, Finland, Iceland, Luxemburg, the Netherlands, Norway, Sweden and Switzerland (the "Expanded Territory").

In combination with the previously signed license agreement for Germany, the Company is now eligible to receive up to approximately $63 million from Sandoz in upfront, regulatory, launch and sales milestone payments for Vitaros® in Germany and the Expanded Territory, which includes up to $4.5 million in new upfront and launch milestone compensation for the Expanded Territory.

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