SAN DIEGO, CA / ACCESSWIRE / February 16, 2015 / Innovus Pharmaceuticals, Inc., ("Innovus Pharma" or the "Company") www.innovuspharma.com (OTCQB: INNV) a company focusing on the commercialization of over-the-counter ("OTC") and consumer products for men's and women's health, vitality and respiratory diseases announced today that its partner Sothema Laboratories, ("Sothema Labs") officially launched Zestra(R) and Zestra Glide(R) in Morocco. The launch press conference took place at the Hyatt Regency Hotel in Casablanca and was attended by Dr. Bassam Damaj, the President and CEO of the Innovus Pharma along with the executives of Sothema Labs. Sothema Labs launched the products with an initial order of approximately 200,000 doses. Innovus Pharma delivered half of the order and is expected to ship the remainder before the end of this quarter. Zestra(R) is currently promoted by Sothema Laboratories with a large sales force, and is available in pharmacies in Morocco, placed behind the counter and dispensed with a physician prescription.
"We are thrilled that our partner Sothema Labs moved swiftly to obtain government approval for Zestra(R) and Zestra(R) Glide to make it available to patients in Morocco and we look forward to the launch of our products in their additional licensed territories," said Dr. Bassam Damaj, President & Chief Executive Officer of Innovus Pharma.
On September 28 2014 Innovus Pharma granted to Sothema Labs an exclusive license to market and sell Innovus Pharma's topical treatment for Female Sexual Desire Disorder ("FSI/AD") as approved by Health Canada, Zestra(R) and its high viscosity water-based lubricant Zestra Glide(R) in the North African countries, the Gulf Countries Middle East (excluding Lebanon and Israel) and West Africa. Under the agreement, Innovus will receive an upfront payment and is eligible to receive up to approximately $171.25 million U.S. dollars upon and subject to the achievement of sales milestones based on cumulative supplied units of the licensed products in the Territory plus a pre-negotiated transfer price per unit.
About Zestra(R) and FSI/AD
Zestra(R) is a patented blend of natural oils clinically-proven in double-blind placebo-controlled clinical trials in 276 women to increase in a statistical significant manner the arousal, desire and sexual satisfaction in FSI/AD women. Zestra(R) 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. Zestra(R) is currently available in the United States, Canada and Morocco.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC and consumer products for men's and women's health and vitality. The Company generates revenues from its lead products Zestra(R) for female arousal and EjectDelay(R) for premature ejaculation and has a total of five marketed products in this space, including Sensum+(R) for the indication of reduced penile sensitivity, (for sales outside the U.S. only), Zestra Glide(R), Vesele(R) for promoting sexual and cognitive health, Androferti(R) (in the US and Canada) to support overall male reproductive health and sperm quality and FlutiCare(TM) OTC for Allergic Rhinitis.
For more information, go to www.innovuspharma.com, www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.sensumplus.com; www.myadroferti.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, receiving patent protection for any of its products, receiving approval or to be compliant with the requirements of any relevant regulatory authority relating to such products such as Zestra(R), to successfully commercialize such products in the Morocco and in other countries and regions, 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, 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:
Lynnette Dillen, EVP and CFO
ir@innovuspharma.com
858.964-5123
SOURCE: Innovus Pharmaceuticals, Inc.