As per the terms of the agreement, Elis has gained commercialization and marketing rights for Vitaros in the Gulf Countries and part of the Middle East (including, Lebanon, Syria, Jordan, Iraq and Yemen).
Apricus Bio will receive tiered double digit royalties based on Elis’s sales of the product.
Apricus entered into another licensing agreement on 22 December 2010, granting Bracco the exclusive rights to market Vitaros, in Italy.
Apricus president and CEO Bassam Damaj said that this is another partnership in a series of commercialization agreements which we plan to execute for Vitaros.