ENGLEWOOD, Colo., Feb. 22, 2017 /PRNewswire/ -- Aytu BioScience, Inc. (OTCQX: AYTU), a specialty pharmaceutical company focused on global commercialization of novel products in the field of urology, today announced the expansion of its U.S. sales team to up to 42 account managers from 35 currently, a 20% increase in the company's commercial footprint.
The sales force expansion is being driven by the increasing growth of Natesto, in both prescriptions and revenues, an indication of increasing acceptance of Natesto's unique product profile and clinical benefits. Through the first six months of Aytu's field promotion, the U.S. sales team has increased Natesto prescriptions by 80%, while the number of prescribers has nearly doubled.
As a result of this growth, Aytu is expanding its U.S. sales footprint to over 40 territories, inclusive of multiple territories in large metropolitan areas that are being divided in order to optimize coverage of the large prescriber base. Additionally, the Company is entering expansion areas that represent additional growth potential for Natesto. The sales force expansion is underway and the Company expects all new territories to be filled by the first half of its fiscal fourth quarter, ending June 30, 2017.
"We continue to be encouraged by the significant prescribing interest in Natesto through the first six months of our field promotion. These trends support the expansion of our geographic coverage which will improve our reach and call frequency to the nearly 7,000 U.S. testosterone replacement therapy (TRT) prescribers we're targeting. We expect this increased promotional voice to further accelerate the prescription trends for Natesto, which represents an important new treatment option for the approximately 13 million men in the U.S. who have Low T," said Josh Disbrow, Chief Executive Officer of Aytu BioScience.
About Aytu BioScience, Inc.
Aytu BioScience is a commercial-stage specialty pharmaceutical company focused on global commercialization of novel products in the field of urology. The company currently markets three products: Natesto®, the first and only FDA-approved nasal formulation of testosterone for men with hypogonadism (low testosterone, or "Low T"), ProstaScint® (capromab pendetide), the only FDA-approved imaging agent specific to prostate specific membrane antigen (PSMA) for prostate cancer detection and staging, and Primsol® (trimethoprim hydrochloride), the only FDA-approved trimethoprim-only oral solution for urinary tract infections. Additionally, Aytu is developing MiOXSYS®, a novel, rapid semen analysis system with the potential to become a standard of care for the diagnosis and management of male infertility caused by oxidative stress. MiOXSYS is commercialized outside the U.S. where it is a CE Marked, Health Canada cleared product, and Aytu is conducting U.S.-based clinical trials in pursuit of 510k medical device clearance by the FDA. Aytu's strategy is to continue building its portfolio of revenue-generating urology products, leveraging its focused commercial team and expertise to build leading brands within well-established markets. For more information visit aytubio.com.
Forward Looking Statement
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our anticipated future clinical and regulatory events, future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others: risks relating to gaining market acceptance of our products, obtaining reimbursement by third-party payors, the potential future commercialization of our product candidates, the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of our future clinical trials, anticipated future regulatory submissions and events, our anticipated future cash position and future events under our current and potential future collaborations. We also refer you to the risks described in "Risk Factors" in Part I, Item 1A of Aytu BioScience, Inc.'s Annual Report on Form 10-K and in the other reports and documents we file with the Securities and Exchange Commission from time to time.
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SOURCE Aytu BioScience, Inc.