Question-and-Answer Session
Operator
Your next question comes from [Aftab Khan] - Private Investor.
Aftab Khan - Private Investor
I’m curious to find out about Befar and if Befar had any sales success in China and I heard there was licensing in Korea?
Vivian Liu
The Befar is still on the market in China. Unfortunately, I think due to the way the product was launched, and also the formulation of Befar in China and the packaging in China is very different from Vitaros of the U.S. Befar was the first generation of the Vitaros product and it was submitted in China at a time when prior to the approval of Viagra in China and as a result, it had kind of a limited distribution in China. It can only be prescribed by certain urologist. It was marketed as kind of a controlled substance.
I know that our licensee has attempted and still continues to try to essentially takeoff. The restriction on the distribution of the product in China and I know that they’ve made some progress in trying to sublicense the product for development in other parts of the territory, including Korea.
I think that frankly, the progress will be easier made by them should the product gain approval in the U.S., or Europe, or Canada because then it will be a lot easier approval process, taking the product back to Asia, where often the approval is more kind of a what they called paper approval process, kind of an automatic approval process because of all of the review and work done in industrialized countries.
Operator
Your next question comes from [Calvin Sue – Unidentified Company].
Calvin Sue – Unidentified Company
I guess it’s a two part question. I was wondering, why is it that basically from the company we heard that you guys weren’t going to file to the NASDAQ. Then from what we understood you also said in some of your filings that you were going to file and that if you failed during the filing, you weren’t going to appeal and we all know, right now you are in the middle of an appeal? Then I guess the other question would be why is it that when you filed for this the first time? Why do you think that you were rejected by the NASDAQ?
Mark Westgate
That is a two part question. I guess the answer on why we decided to appeal is things have changed. Remember when we first said, we were not going to appeal, we had no discussions with NASDAQ. So after submitting the plan, having discussions with NASDAQ, we kind of felt sort of comfortable that if we gave them a little more detail we’d have a better shot for lack of a better word.
- To read the full transcript on Seeking Alpha, click here »
