San Diego Business Journal

Apricus Biosciences Inc. announced recently that it has a new chief executive officer: Richard Pascoe.

Pascoe comes to Apricus after serving as CEO of Somaxon Pharmaceuticals Inc. Somaxon, which produces the sleep aid Silenor, has been a company in transition. Pernix Therapeutics of Texas closed its purchase of Somaxon early this month.

Pascoe’s new firm, Apricus, has one approved product: Vitaros will be marketed in Canada by Abbott Laboratories for the treatment of erectile dysfunction. Apricus also has a product candidate called Femprox for the treatment of female sexual arousal disorder.

Stock in the Carmel Valley-based company trades on the Nasdaq as APRI.

Steve Martin, who had served as Apricus’ interim CEO, will resume his role as chief financial officer. Martin had taken the interim CEO’s job following the resignation of CEO Bassam Damaj.

— SDBJ Staff Report