NexMed: Schering AG terminates its license for Alprox-TD for erectile dysfunction

By Lisa Kerner

Charlotte, N.C., June 26 - NexMed, Inc. said Schering AG has terminated its license, supply and distribution agreement for Alprox-TD, NexMed's topical treatment for erectile dysfunction.

The agreement, signed in July 2004, provided Schering AG with exclusive commercialization rights to Alprox-TD in Europe, Russia, the Middle East, South Africa, Australia and New Zealand, according to a company news release.

As a result of the termination, Schering must pay NexMed a fee of €500,000.

"While we regret losing Schering as an overseas marketing partner for Alprox-TD, we are pleased to have back in our possession these valuable licensing and marketing rights," chief executive officer Richard J. Berman said in the release.

"We will use this opportunity to redouble our efforts to license Alprox-TD to a co-development partner who will commit financial resources to the completion of the clinical development program required for approval in Europe and the United States."

An estimated 15 million to 30 million U.S. men suffer from erectile dysfunction, with only a small percentage seeking treatment. The worldwide market for erectile dysfunction is projected to reach $4.3 billion by 2010.

NexMed is a drug development company located in East Windsor, N.J.

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