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.
