mugzy
TID Board Of Directors
- Aug 11, 2010
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- 1,801
AN Australian company will sell the world's first armpit testosterone lotion in American stores next year after receiving approval from the US Food and Drug Administration.
The lotion, created by Melbourne-based drug delivery firm Acrux, treats men with hypogonadism, a disease which produces low testosterone levels and includes symptoms such as erectile dysfunction, low sexual desire and performance.
Axiron - an anagram for "iron ax" – is the first testosterone replacement therapy to be applied in the armpit, with current treatments including a gel for the upper body and regular injections.
Unlike other therapies, Acrux CEO Richard Treagus said Axiron is designed to maximise the absorption of testosterone into the skin, and has the benefit of drying quicker than existing gels, which can be “sticky and tacky”.
"We found that patients preferred this because it only needs to be applied once a day and it fits into their daily bathroom routine," Mr Treagus said.
Victorian College of Pharmacy made the breakthrough that led to this product in the late 1990s, he said.
"In all countries around the world our estimate is that approximately 39 per cent of men over 45 have testosterone levels below the normal range, and for that matter only 5 to 10 per cent are currently being treated," said Accrux CEO Richard Treagus.
"What we’ve found is the population is ageing in the US, Australia and around the world, and with (that comes) greater awareness around men’s health issues, more are now receiving treatment for them," he said.
Axiron, which is only available by prescription, will be sold for the first time next year in the US, which has the world’s largest market for testosterone replacement worth $1 billion a year.
Acrux will receive a second milestone payment of $US87 million ($89 million) for the lotion from its partner, US-based pharmaceutical company Eli Lilly in the next 15 days, which will increase Acrux's cash reserves to $145 million.
The company will also receive royalties from global sales of Axiron and is eligible for commercial milestone payments of up to $US195 million.
Acrux has no plans to bring the lotion to Australia yet.
The lotion, created by Melbourne-based drug delivery firm Acrux, treats men with hypogonadism, a disease which produces low testosterone levels and includes symptoms such as erectile dysfunction, low sexual desire and performance.
Axiron - an anagram for "iron ax" – is the first testosterone replacement therapy to be applied in the armpit, with current treatments including a gel for the upper body and regular injections.
Unlike other therapies, Acrux CEO Richard Treagus said Axiron is designed to maximise the absorption of testosterone into the skin, and has the benefit of drying quicker than existing gels, which can be “sticky and tacky”.
"We found that patients preferred this because it only needs to be applied once a day and it fits into their daily bathroom routine," Mr Treagus said.
Victorian College of Pharmacy made the breakthrough that led to this product in the late 1990s, he said.
"In all countries around the world our estimate is that approximately 39 per cent of men over 45 have testosterone levels below the normal range, and for that matter only 5 to 10 per cent are currently being treated," said Accrux CEO Richard Treagus.
"What we’ve found is the population is ageing in the US, Australia and around the world, and with (that comes) greater awareness around men’s health issues, more are now receiving treatment for them," he said.
Axiron, which is only available by prescription, will be sold for the first time next year in the US, which has the world’s largest market for testosterone replacement worth $1 billion a year.
Acrux will receive a second milestone payment of $US87 million ($89 million) for the lotion from its partner, US-based pharmaceutical company Eli Lilly in the next 15 days, which will increase Acrux's cash reserves to $145 million.
The company will also receive royalties from global sales of Axiron and is eligible for commercial milestone payments of up to $US195 million.
Acrux has no plans to bring the lotion to Australia yet.