Preliminary Annual Revenue Increase by 2.7x Compared to Prior Year
SAN DIEGO–(BUSINESS WIRE)–Innovus Pharmaceuticals, Inc. (“Innovus Pharma” or the “Company”)
(OTCQB: INNVD) today announced preliminary annual 2018 net revenue is
estimated to be $24.0 million or approximately 2.7x the annual 2017 net
revenue of $8.8 million. Innovus Pharma’s annual 2018 anticipated net
revenue results are preliminary and based on the most current
information available and are subject to completion of the audited
consolidated financial statements for the year ended December 31, 2018,
which are to be filed with the Securities and Exchange Commission (“SEC”)
as part of the Company’s Annual Report on Form 10-K (“Annual Report”)
no later than April 1, 2019. Actual results may differ from the
preliminary results reported herein. Investors are encouraged to review
the Company’s Annual Report when filed with the SEC.
“We are very happy with the increased growth in our sales channels,
additional markets and product pipeline with our estimated annual 2018
net revenue of $24.0 million, which is in line with what we previously
projected,” stated Bassam Damaj, President and Chief Executive Officer
of Innovus Pharma. “We continue to work hard towards our operational and
financial goals to increase the breadth of our product offerings and
work to achieve potential profitability.”
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer
goods and specialty pharmaceutical company engaged in the
commercialization, licensing and development of safe and effective
non-prescription medicine and consumer care products to improve men’s
and women’s health and vitality and respiratory diseases. Innovus Pharma
delivers innovative and uniquely presented and packaged health solutions
through its (a) OTC medicines and consumer and health products, which we
market directly, (b) commercial partners to primary care physicians,
urologists, gynecologists and therapists, and (c) directly to consumers
through our on-line channels, retailers and wholesalers. The Company is
dedicated to be a leader in developing and marketing new OTC and branded
Abbreviated New Drug Application (“ANDA”) products. The Company is
actively pursuing opportunities where existing prescription drugs have
recently, or are expected to, change from prescription (or Rx) to OTC.
For more information, go to www.innovuspharma.com;
www.zestra.com;
www.ejectdelay.com;
www.myvesele.com;
www.urivarx.com;
www.sensumplus.com;
www.myandroferti.com;
www.beyondhumantestosterone.com;
www.getbeyondhuman.com;
www.trybeyondhuman.com;
www.recalmax.com;
www.prostagorx.com;
www.fluticare.com;
www.allervarx.com;
and www.apeaz.com.
Innovus Pharma’s Forward-Looking 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, its financial results, projected revenues, projected online
subscribers and other customers, estimated markets for its products, and
statements about achieving its other corporate and business development,
growth, commercialization, financial and staffing objectives. 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 filing on Form
S-1, 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.
Contacts
For more information, please contact:
Randy Berholtz
Innovus
Pharma Investor Relations
Tel: +1 858 249 7865
ir@innovuspharma.com