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Apricus Biosciences' erectile dysfunction drug approved in Mexico

Apricus Biosciences Inc.'s erectile dysfunction drug Vitaros was approved for sale in Mexico.

Ferring Pharmaceuticals will market the drug on Apricus' behalf and paid the company $4.5 million in up-front payment as well as another $1.6 million in a regulatory milestone payment.

Apricus is eligible to receive up to a further $28 million in regulatory, launch and sales milestones, plus royalties on future net sales.

Vitaros is approved for use in more than 20 countries, including in parts of Europe.