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| Aspargo’s Global Footprint Grows With Middle East Expansion, Disrupting the Erectile Dysfunction Market With Oral Spray | ||
| By: GlobeNewswire - 04 Oct 2022 | Back to overview list |
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ENGLEWOOD CLIFFS, N.J. and DUBAI, United Arab Emirates, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Aspargo Laboratories, Inc. (“Aspargo”), a private specialty pharmaceutical company focused on commercializing an innovative oral spray formulation of sildenafil, the active ingredient in Viagra®1 (“Sildenafil Spray”) announced today that it has entered into an Exclusive License Agreement (the “License”) with Taiba Healthcare Group (“Taiba”), a leading healthcare marketing, distribution and retail pharmacies group in the Sultanate of Oman, with regional operations and presence. The License grants Taiba the exclusive right and license to market, promote, and distribute Sildenafil Spray in the territory described in the License (the “Territory”), which covers Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, Oman, Lebanon, Egypt, and Iraq. Taiba will assume responsibility for and bear the cost of obtaining regulatory approval to market Sildenafil Spray in each jurisdiction in the Territory. In consideration of the grant of the rights under the License, Taiba has agreed to enter into a Supply Agreement (the “Supply Agreement”) with Aspargo and Farmalider, S.A. (“Farmalider”) governing the supply of Sildenafil Spray to Taiba for resale in the Territory. The Supply Agreement will include a fixed price per unit agreed upon by Aspargo and Taiba in the License and such other terms as is customary for supply agreements of this nature. Farmalider, the licensor to Aspargo of the rights to Sildenafil Spray and manufacturer of Sildenafil Spray for Aspargo in Spain and Mexico, will manufacture and package Sildenafil Spray for resale in the Territory. The License and Supply Agreements leverage Taiba’s marketing, logistics, administration, supply chain, and drug distribution services to maximize product sales in the Middle East region. “Our expansion into the Middle East region validates our effort to bring men an alternative spray option in a market that hasn’t had much disruption in over two decades,” said Michael Demurjian, Aspargo’s Chairman and Chief Executive Officer. “Aspargo’s pocket-sized oral spray empowers men to manage their erectile dysfunction in a discreet way, and we’re proud of this next phase in our global expansion efforts.” “We are very excited to announce the introduction of Sildenafil Spray in the Middle East region,” said Saif Al Hasani, Taiba’s Chief Executive Officer. “We are continuously expanding our portfolio by introducing new dosage forms that enhance patient care at an affordable cost. Together with Aspargo, we will build on Taiba’s 20 years of experience in this region to successfully market a sildenafil spray option for men with erectile dysfunction.” Sildenafil Spray is an oral suspension formulation of sildenafil citrate administered via a metered-dose spray pump that dispenses 12.5 mg of sildenafil per push. The discreet and easy-to-carry oral spray allows the patient to customize dosing based on his medical need and avoid pill splitting or crushing commonly associated with the traditional tablet medication. Erectile dysfunction (“ED”) is characterized by the persistent difficulty achieving and maintaining an erection sufficient to have sexual intercourse. Although the prevalence of ED has been shown to increase with age, a recent study conducted by the Sexual Medicine and Andrology Unit of the University of Florence, Italy, showed that ED in younger men is likely to be overlooked and dismissed without a proper medical assessment. About Aspargo Laboratories, Inc. Aspargo Laboratories, Inc., located in Englewood Cliffs, New Jersey, is a commercial-stage, specialty pharmaceutical company. Aspargo’s current focus is to commercialize an oral spray formulation of sildenafil citrate, the active ingredient in Viagra®. Product sales have commenced in Spain. Aspargo is the exclusive licensee of patent rights covering Sildenafil Spray in the US and various international jurisdictions, granted to Aspargo by Farmalider, S.A. of Madrid, Spain (http://www.farmalider.com/?lang=en). For additional information, please visit our website at https://aspargolabs.com/. About Taiba Healthcare Group Taiba is a leading specialty pharmaceutical company in the Sultanate of Oman with operations and presence throughout the Middle East/North Africa (MENA) region. Taiba is focused on providing patient access to innovative health care solutions through a diverse portfolio of niche and rare disease medications addressing unmet patient needs. Taiba partners with pharmaceutical and biotech companies throughout the world to access the latest technology and accelerate the delivery of new medicines in the MENA region. For additional information, please visit Taiba’s website at https://taibahealthcare.com/. Contact: 
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