VIVUS Signs Japanese Partnership for MUSE; VIVUS to Receive $5 Million Up-Front Payment|
MOUNTAIN VIEW, Calif.--(BW HealthWire)--May 17, 1999--VIVUS, Inc. (Nasdaq: VVUS) announced today that the Company has signed an agreement with Bio-Medic Institute, Inc. ("BMI") for the registration and commercialization of MUSE(R) (alprostadil) in Japan. BMI provides new drug planning and development services to Japanese pharmaceutical companies. Terms of the agreement call for BMI to make a $5 million up-front payment to VIVUS and to assume responsibility for all clinical and regulatory activities necessary for registration of MUSE in Japan. Upon marketing approval by the Japanese regulatory agency, VIVUS will manufacture and sell MUSE to BMI.
"VIVUS is pleased to announce this partnership as BMI is well positioned in the Japanese pharmaceutical marketplace to quickly and successfully develop MUSE and gain regulatory approval," said Leland F. Wilson, President and CEO, VIVUS, Inc.
"BMI is currently in negotiations with a major Japanese pharmaceutical company to distribute and market MUSE in Japan", said Dr. Sumiaki Tsuru, President and CEO, Bio-Medic Institute, Inc.
VIVUS, Inc. is the developer and manufacturer of MUSE(R) (alprostadil) and ACTIS(TM), two innovations in the treatment of men with erectile dysfunction ("ED"), also known as impotence. The Company's objective is to become a global leader in the development and commercialization of innovative therapies for the treatment of sexual dysfunction and urologic disorders in men and women. VIVUS has ongoing research and development programs and is currently conducting Phase III clinical trials for ALIBRA(TM), its second-generation male ED treatment.
The Company markets and sells its products through distribution, co-promotion or license agreements with corporate partners. Currently, VIVUS markets MUSE and ACTIS in the United States. Outside of the U.S., VIVUS has partnered with AstraZeneca, Janssen Pharmaceutica and Bio-Medic Institute to market MUSE through licensing and distribution agreements.
Note to editors and investors: Additional written materials, recent releases and Company information are available through a variety of sources, including the VIVUS home page (http://www vivus.com) and the VIVUS Fax-on Demand Service (1-888-329-5719).