Veru Inc., an oncology biopharmaceutical company focused on the development of novel drugs for the management of breast and prostate cancer, announced that the FDA approved ENTADFIMT for the treatment of urinary tract symptoms caused by an enlarged prostate called benign prostatic hyperplasia (BPH).
Veru has a commercial sexual health division, which includes a drug candidate ENTADFI, formerly referred to as TADFYN, a new treatment for benign prostatic hyperplasia and a commercial product, the FC2 Female Condom, Internal Condom an FDA approved product for the dual protection against unplanned pregnancy and the transmission of sexually transmitted infections.
Revenue from the sexual health division is being used to largely fund the clinical development for our late-stage drug candidate assets, which aim to address multi-billion dollar premium market opportunities. Veru’s revenue increased to $61.3 million in fiscal 2021, increasing from $42.6 million in fiscal 2020.
Veru has built the infrastructure to allow for broad access to FC2 across the United States and is available through multiple sales channels. Veru’s strategy is to continue to drive robust FC2 sales and not only to seek additional telemedicine at pharmacy services partners, but also to create its own dedicated direct to patient telemedicine pharmacy services platform.
Veru has also partnered with GoodRx, a U.S.-based digital resource that reaches nearly 20 million monthly visitors, and offers a unique cash price to ensure that Veru’s treatment is more affordable and accessible.
GoodRx is the first and only prescription drug price comparison tool created for consumers with prices from pharmacies nationwide. GoodRx’s founders are seasoned technology executives who were early employees at Facebook, Yahoo and other successful companies.
Takeaway: ENTADFI will be marketed and distributed through Veru’s own telemedicine and telepharmacy services platform as well as through a partnership with GoodRx