Vivus ends development agreement with FemPharm
MOUNTAIN VIEW, Calif. (AP) — Biopharmaceutical company Vivus Inc. said Wednesday that it ended its development and commercialization partnership with Acrux for a testosterone treatment for women.
Rights to the treatment Luramist will be returned to FemPharm Pty Ltd., a subsidiary of Acrux Ltd.
"The decision to terminate the agreement was made in view of the significant long-term safety requirements for the approval of testosterone products in women," Vivus President Peter Tam said in a statement from the company. "We believe it is in our shareholders' best interests to pursue other therapeutic candidates."
Vivus, based in Mountain View, Calif., said it will focus work on drug candidates that treat obesity and erectile dysfunction.
The agreement was initially signed in 2004.
Shares of Vivus slipped 1 percent to $8.80 in premarket trading.