Merus Labs International Inc.

April 23, 2013 08:00 ET

Merus Provides Enablex Operational Update

TORONTO, ONTARIO--(Marketwired - April 23, 2013) - Merus Labs International Inc. ("Merus" or the "Company") (TSX:MSL)(NASDAQ:MSLI) is pleased to provide a corporate update regarding its flagship branded prescription medicine product Emselex®/Enablex® (darifenacin) extended release tablets.

On April 16, 2013, a wholly owned subsidiary of Merus Labs International received approval from Health Canada with regards to the marketing authorization (NOC) transfer of Emselex®/Enablex® from Novartis Pharma AG and its affiliates ("Novartis"). Merus is re-launching the product in Canada and devoting significant sales and marketing resources to these activities.

Merus is also finalizing an agreement with one of Europe's most advanced contract manufacturing groups to manufacture Emselex®/Enablex® for sale and distribution in Europe and Canada. The operational phase of the manufacturing tech transfer will begin in May 2013. During the operational transition period Novartis will continue to manage the manufacturing of Emselex®/Enablex®.

Merus acquired the Canadian and European rights from Novartis to manufacture, market, and sell the branded prescription medicine product Emselex®/Enablex® (darifenacin) extended release tablets. Darifenacin is a muscarinic antagonist indicated for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency and frequency. In calendar year 2012, the product had net sales of approximately US$22 million in the territories acquired. Sales of Enablex in Europe and Canada accounted for $6.6 million of in-market net sales during Q1 fiscal 2013, pushing total sales from all products to $9.3 million for the quarter. During Q2 2013 Merus has entered into promotion and distribution agreements with selected partners in several European countries in order to drive top line growth for Enablex.

Elie Farah, President and CEO of Merus Labs International stated, "Merus management is pleased that the transfer of regulatory and operational components of Enablex® from Novartis are proceeding as planned, and with the help of our promotion and distribution partners, we continue to achieve strong results."

About Merus Labs International Inc.

Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. The Company utilizes its expertise in pharmaceutical markets and its access to capital to acquire and license niche branded products. Merus further enhances the sale and distribution of these products by the introduction of a focused marketing and promotion plan.

Cautionary Statement

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E (i) (1) of the United States Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Merus' actual results to be materially different from any future results expressed or implied by these statements. Such factors include the following: general economic and business conditions, changes in demand for Merus' products, changes in competition, the ability of Merus to integrate acquisitions or complete future acquisitions, interest rate fluctuations, currency exchange rate fluctuations, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this press release should not be regarded as a representation by Merus that Merus' plans and objectives will be achieved. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.

Contact Information