The Company Receives Purchase Order from Lavasta for $186,000
SAN DIEGO–(BUSINESS WIRE)–Innovus Pharmaceuticals, Inc. (“Innovus Pharma” or the “Company”) (OTCQB
Venture Market: INNV), an emerging over-the-counter (“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, announced
today that its partner, Lavasta Pharma RFZ-LLC (“Lavasta”), a company
based in Dubai, received approval from the Algerian Ministry of Health
and Commerce to market and sell the Company’s Zestra® and Zestra Glide®
products in that country. In addition, Innovus Pharma announced that it
received a purchase order from Lavasta Pharma for these two products for
approximately $186,000.
Innovus signed an exclusive distribution agreement with Lavasta to
market and sell Zestra®, Zestra Glide® and ProstaGorx® for prostate
health in 2018. Besides Algeria, Lavasta has rights to market and sell
Zestra® and Zestra Glide® upon regulatory approval in over thirty
countries in the Middle East, North Africa and West Africa.
“We are happy that our partner Lavasta has been able to receive approval
to market and sell Zestra® and Zestra Glide® in Algeria. We are looking
forward to expanding the countries into which Lavasta can sell these two
products and also look forward to its eventual sales of ProstaGorx® into
this territory,” said Innovus Pharma CEO, Dr. Bassam Damaj.
“We continue to work with international distributors of our products
like Lavasta in other countries throughout the world,” continued Dr.
Damaj.
“Zestra is a very unique and in demand product in the MENA region due to
its high clinical efficacy and we believe it will be a multi-million
dollar product in that region in a relatively short period of time,”
said Lavasta President Tara Benasi.
Besides, Lavasta, Zestra® is currently exclusively partnered with Orimed
Pharma, the OTC subsidiary of Jamp Pharma, in Canada, Densmore in France
and Belgium, DanaLife ApS in select European markets and Li USA, Co. for
South Korea, and non-exclusively to PT Resources in Hong Kong and
certain select Asian markets.
Zestra® is currently approved to be commercialized in 38 countries in
the world namely, in Canada, the 28 countries of the European Union,
Australia, New Zealand, India, Hong Kong, the United Arab Emirates,
South Korea, Morocco, Algeria and Malaysia. Innovus Pharma currently
generates revenues from the following markets for Zestra®: Canada,
Australia, Morocco, Malaysia, certain European countries, South Korea
and Hong Kong in addition to the United States as its biggest market.
About Zestra® and FSI/AD
Zestra® is a patented blend of natural oils clinically-proven in
double-blind placebo-controlled clinical trials in 276 women to increase
in a statistically significant manner the arousal, desire and sexual
satisfaction in women with Female Sexual Interest/Arousal Disorder
(“FSI/AD”). To the Company’s knowledge, Zestra® is the first NHP product
to receive approval for the indication of FSI/AD in Canada. To date, no
product has been approved to treat FSI/AD, a persistent or recurring
inability to attain or maintain adequate sexual excitement until the
completion of a sexual activity. The diagnosis can also refer to an
inadequate lubrication-swelling response normally present during arousal
and sexual activity causing personal distress. Published papers on the
FSI/AD market size estimate it to be equal or larger than the market for
erectile dysfunction in males, and possibly larger.
Approximately 43% of women in the United States age 18 to 59, or ~50
million, experience some form of Female Sexual Dysfunction (“FSD”)
according to a published study. (Laumann, E.O. et al. Sexual Dysfunction
in the United States: Prevalence and Predictors. JAMA, Feb. 10, 1999.
vol. 281, No. 6.537-542). The FSD market in the United States is
estimated to be more than $1 billion per year. For more information on
Zestra®, please visit www.zestra.com.
About Zestra Glide®
Zestra Glide® is a clinically tested water-based longer lasting
lubricant. In a 57 patient safety clinical study, Zestra Glide® proved
to be safe and caused no irritation or skin side effects during the six
week trial. To our knowledge, Zestra Glide® is the only water-based
lubricant clinically tested for safety and has a viscosity of over
16000cps on the market. Increased viscosity usually translates into
longer effects. The lubricant market is estimated to be around $200
million in the U.S. (Symphony IRI Group Study, 2012).
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging
over-the-counter (“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 being 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.zestra.com;
www.zestraglide.com;
www.fluticare.com;
www.allervarx.com;
www.apeaz.com;
www.diabasens.com;
and www.supplementhunt.com.
About Lavasta Pharma
Lavasta Pharma is a multi-specialty health care company focused on
representing and commercializing innovative pharmaceuticals and
over-the-counter consumer products that enable people to live life to
its greatest potential. The company’s services currently extend to cover
the region of Africa, Middle East and Turkey.
Lavasta Pharma has a regional team that manages the strategic execution
of commercial operations across the AFMET region with a sales force team
on the ground of 150+ across the region.
Lavasta Pharma has 2 main affiliated companies: (a) Lavasta Pharma
FZ-LLC in Dubai, UAE that serves as the main commercial hub for the
AFMET Region and (b) Lavasta Pharma LLC- UK in London, UK that serves as
the Marketing Authorization and Intellectual Property holding entity.
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, receiving patent protection for any of its products, to successfully
commercialize Zestra® and Zestra Glide® in Algeria and elsewhere and to
achieve its other development, 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 annual
report on Form 10-K, 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
Innovus Pharma Investor Relations
Randy Berholtz
Tel:
858-249-7865
ir@innovuspharma.com