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Axiron underarm cream to rival Viagra pills
Melbourne-based Acrux has inked a deal potentially worth $367 million, giving US pharmaceutical giant Eli Lilly the right to sell its first-of-a-kind underarm sex-drive testosterone lotion. Under the terms of the agreement Eli Lilly will get worldwide rights to market the Axiron treatment - applied as an underarm cream - used in the treatment of testosterone deficiency in men over 45. It's the largest licensing deal ever struck with an Australian biotech company, an industry expert said. Results of a clinical trial released in September showed Axiron brought testosterone levels to normal in 84 per cent of men after four months, Bloomberg reported. Low testosterone levels have been linked to a low sex drive. The new product may become a rival for the Viagra pill, a global blockbuster drug, made by Eli Lilly's rival Pfizer. Eli Lilly, which already makes a competing drug for Viagra named Cialis, said it planned to expand its range of men's health products. Acrux will get an upfront payment of $US50 million
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