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| 8-K - CURRENT REPORT - INNOVUS PHARMACEUTICALS, INC. | innv8k.htm |
Exhibit 99.1
Innovus Pharma Signs Exclusive License and Distribution
Agreement
with Lavasta Pharma for ProstaGorx® in Certain Middle
Eastern
and North African Countries
The Company to Receive an Upfront Payment plus
Transfer Price on Minimum Annual Purchases
Requirements
San
Diego, Calif., January 23, 2018 – 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 the
signing of an exclusive license and distribution agreement with
Lavasta Pharma FZ-LLC, a company based in Dubai
(“Lavasta”) for the commercialization of
ProstaGorx® in the Kingdom of Saudi Arabia, Algeria, Egypt,
the United Arab Emirates, Lebanon, Jordan, Kuwait, Morocco,
Tunisia, Bahrain, Oman, Qatar, and Turkey, among other
countries. Under the agreement,
Innovus Pharma will receive an up-front license payment, will sell
the products to Lavasta at set supply prices and Lavasta has
certain minimum annual purchase requirements.
“We are pleased to expand our international exports of our
products through the introduction of our ProstaGorx® product
in the Middle East and North Africa regions through this
partnership with Lavasta,” said Innovus Pharma CEO, Dr.
Bassam Damaj. “Lavasta is our 19h distribution partner
for our products outside the United States and represents our
second major partnership to sell one of our core U.S. products
abroad,” said Innovus CEO Dr. Bassam Damaj. “This
partnership is one more step towards achieving our 2018 corporate
goals for expanded revenue and profitability from our many
international distributors,” continued Dr.
Damaj.
“We
are excited to introduce ProstaGorx® to many countries
throughout the Middle East. We believe this product meets large
unmet needs in the region and we look forward to partnering with
Innovus Pharma here through the use of our extensive marketing
channels and sales forces in these countries,” said Tara
Banasi, President of Lavasta.
About ProstaGorx® and Prostate Health
Prostate health issues affect millions of men and it is important
to offer a natural, clinically tested, alternative product with a
potentially approved claim for urologic symptoms of BPH. With
multiple published clinical trials, ProstaGorx® ingredients
have been shown to:
1.
Work with the prescription drug finasteride to reduce actual
prostate weight;
2.
Regulate DHT production and hormones that influence prostate
volume;
3.
Clinically reduce nocturia, and improve prostate symptoms in men
with BPH or prostatitis;
4.
Clinically reduce overall rate of progression of prostate cancer in
men; and
5.
Decrease serum PSA levels, suppression of tumor growth and support
urinary function.
An estimated 50% of men have histologic evidence of BPH by age 50
and 75% by age 80; in 40–50% of these men, BPH becomes
clinically significant] BPH
was one of the ten most common, and costly, diseases in men older
than 50 years of age in a recent study in the United
States.
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.fluticare.com;
www.beyondhumantestosterone.com;
www.getbeyondhuman.com;
www.trybeyondhuman.com;
www.recalmax.com;
www.allervarx.com;
www.apaez.com; and
www.prostagorx.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 ProstaGorx® and
others in certain Middle Eastern and North African countries 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.
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Contact:
James
S. Painter III
Emerging
Markets Consulting, LLC
Tel:
407 340 0226
jamespainter@emergingmarketsllc.com