Apricus Biosciences Announces Ceasing of Financing of French Subsidiaries

Apricus Biosciences Announces Ceasing of Financing of French Subsidiaries

Company to Focus Resources on Vitaros(R) and Femprox(R)

SAN DIEGO, March 14, 2013 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc.
("Apricus Bio" or the "Company") (Nasdaq:APRI) (www.apricusbio.com) today
announced that it intends to cease financing its French subsidiaries, Finesco
SAS, its French holding company, Scomedica SAS, its French sales company and
NexMed Pharma SAS its marketing company. In line with its previously stated
corporate strategy, the Company will continue to focus its resources on
commercializing its lead product Vitaros^® (alprostadil 0.3% topical cream),
for the treatment of erectile dysfunction ("ED"), and on further developing
through clinical trials it lead product candidate, Femprox^® (alprostadil 0.4%
topical cream), for the treatment of female sexual arousal disorder ("FSAD").

The strategic decision to cease financing its French subsidiaries follows a
decrease in the unit's operating performance resulting from recently enacted
pricing policies affecting drug reimbursement in France and the subsequent,
related loss or interruption of certain contract sales agreements. Given these
events, the Company re-assessed the fair value of the reporting unit of the
French subsidiaries and as a result of that assessment, the Company recorded
one-time, non-cash, impairment charges totaling approximately $8.8 million in
the fourth quarter of 2012.

"After performing an in depth cost-benefit analysis and evaluating strategic
options, the Board of Directors has determined that it is in the best interest
of the Company and its shareholders to cease financing the Company's French
subsidiaries," said Rusty Ray, Chairman of the Board of Apricus Bio. "While
they were acquired in mid-2012, changes since that time in the French drug
reimbursement environment strongly favoring generic pharmaceuticals have led
to an unforeseen loss of contract revenue and a substantial reduction in the
unit's value potential. The Board continues to believe that the greatest
opportunity for shareholder value creation remains in the development and
commercialization, through strategic partnerships, of the Company's primary
pipeline assets, particularly Vitaros^® and Femprox^® for male and female
sexual health. We continue to look forward to what we hope to be a successful
launch of Vitaros® in Canada by Abbott in the first half of this year, as well
as, an approval decision by the Referenced Member State for Vitaros® in Europe
in this same time period."

About Apricus Biosciences, Inc.

Apricus Biosciences, Inc. is a pharmaceutical company that develops and
markets innovative treatments that help large patient populations across
numerous, large-market therapeutic classes including male and female sexual
health. Apricus Bio is headquartered in San Diego, California and is publicly
traded on the NASDAQ Capital Market under the ticker symbol APRI.

For further information on Apricus Bio, visit http://www.apricusbio.com, and
for information on its subsidiary please visit http://www.nexmedusa.com. You
can also receive information at http://twitter.com/apricusbio.

Apricus Bio's Forward-Looking Statement Safe Harbor

Statements under the Private Securities Litigation Reform Act, as amended:
with the exception of the historical information contained in this release,
the matters described herein contain forward-looking statements that involve
risks and uncertainties that may individually or mutually impact the matters
herein described for a variety of reasons that are outside the control of the
Company, including, but not limited to: the ability for the Company's French
subsidiaries to reorganize, liquidate or find strategic alternatives, Apricus
Bio's ability to achieve its development, commercialization and financial
goals, its ability to further develop its products and product candidates, the
timing for approval decisions regarding Vitaros® in Europe and other markets,
as well as the ultimate outcome of these decisions, the timing and success of
the commercial launch of Vitaros^® in Canada, and its ability to successfully
develop Femprox®. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the
risk factors set forth in the Company's most recent annual report on Form
10-K, subsequent quarterly reports filed on Form 10-Q and other filings made
with the SEC. Copies of these reports are available from the SEC's website or
without charge from the Company.

CONTACT: Apricus Bio Investor Relations:
        
         David Pitts or Lourdes Catala
         Argot Partners
         212-600-1902
         david@argotpartners.com
         lourdes@argotpartners.com

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