Veru sells entadfi® business for $20 million plus up to an additional $80 million from sales milestones

Miami, fl, april 20, 2023 (globe newswire) -- veru inc. (nasdaq: veru), a biopharmaceutical company focused on developing novel medicines for oncology and sars-cov-2 and other viral ards-related diseases, today announced the sale of its entadfi® (finasteride and tadalafil) capsules business for benign prostatic hyperplasia (bph) to blue water vaccines, inc. (nasdaq: bwv) for $20 million and up to an additional $80 million from sales milestones. under the terms of the agreement, veru received $6 million at closing and blue water is obligated to pay the company an additional $4 million in the company's fiscal year 2023, and an additional $10 million in installments in the company's fiscal year 2024. in addition, veru could receive up to an additional $80 million if certain entadfi sales milestones are achieved.
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