vivus calls it quits on testosterone drug, page-6

ACRUX LIMITED (ACR) - ASX ANNOUNCEMENT 1 APRIL 2010
ACRUX TO REGAIN RIGHTS TO TESTOSTERONE
SPRAY FOR WOMEN FROM VIVUS
Acrux (ACR) today reported important developments in the dispute between FemPharm
Pty Ltd (a wholly owned subsidiary of Acrux Limited) and Vivus Inc., the US licensee
for Acrux?s testosterone spray for women (trademarked ?Luramist?? by Vivus).
Vivus failed to start the Luramist Phase 3 trial by the outside date of 1 April 2010 that
was set by the independent arbitration panel, convened by the Judicial Arbitration and
Mediation Service (JAMS) in California. Consequently on 29 March 2010, FemPharm
referred the matter back to the panel, requesting a further hearing.
The next day Vivus provided notice to terminate the license agreement. On termination,
the US rights to the testosterone spray will return to FemPharm, which will then own
and control worldwide rights to the product.
?We are very pleased that Acrux will now be able to control the development and
commercialisation of our novel testosterone spray for women?, said Acrux CEO
Richard Treagus. ?We have always believed that it has the potential to generate very
strong commercial returns for Acrux, being potentially the best-in-class product in a
billion dollar market? he added.