Business
Aytu BioScience and Validus Pharmaceuticals Announce ZolpiMist Co-Promotion Agreement and Launch Into the $163 Million Psychiatry Market
Co-Promotion Expands Physician Promotion of Aytu's Prescription Sleep Aid with Dedicated Specialty Sales Force, into Psychiatry Market, Which Accounted for
About this update from Aytu Biopharma, Inc.
[{"type":"text","content":"Co-Promotion Expands Physician Promotion of Aytu's Prescription Sleep Aid with Dedicated Specialty Sales Force, into Psychiatry Market, Which Accounted for Over 2.7 Million Zolpidem Tartrate Prescriptions for The Twelve Months Ending August 2019Aytu's third announced product co-promotion and has expanded Natesto®, Tuzistra® XR, and ZolpiMist promotional efforts to over 100 sales representatives nationwide ENGLEWOOD, CO and PARSIPPANY, NJ / ACCESSWIRE / October 2, 2019 / Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs and Validus Pharmaceuticals LLC (\"Validus\"), a privately-held specialty pharmaceutical company focused on acquiring, reformulating, and marketing prescription products in specialty therapeutic areas, today announced the signing of a co-promotion agreement to exclusively commercialize ZolpiMist™ to psychiatrists in the United States. For the twelve months ending August 2019, U.S. psychiatrists wrote over 2.7 million zolpidem tartrate prescriptions, representing $163 million in wholesale revenue.This represents Aytu's third announced product co-promotion and has expanded Natesto®, Tuzistra® XR, and ZolpiMist promotional efforts to over 100 sales representatives nationwide.Validus is a commercial-stage, private equity-backed specialty pharmaceutical company with a focused psychiatry sales force. Validus began ZolpiMist promotion October 1, 2019.Through this co-promotion, Validus gains exclusive promotional rights to ZolpiMist to psychiatrists and will receive a fixed percentage commission payment based on total psychiatrist prescriptions written. The agreement term is three years and allows for Validus' expansion of promotion to all U.S. psychiatrists.Josh Disbrow, Chief Executive Officer of Aytu BioScience, commented, \"Validus is an ideal partner with which to expand our promotional efforts for ZolpiMist. Their established commercial capability and strong relationships with psychiatrists, who are prolific prescribers of sleep aids, make Validus an excellent fit to grow ZolpiMist prescriptions in a specialty we don't currently reach. Further, this partnership enables our sales force to focus on primary care and provides for promotion by an experienced sales team in this high-prescribing specialty in key markets a...