Attached files
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| 8-K - CURRENT REPORT - INNOVUS PHARMACEUTICALS, INC. | innv8k_jul172018.htm |
Exhibit
99.1
Innovus Pharmaceuticals Reports Preliminary Q2 2018 Sales
Revenue
of $6.6 million to $6.8 million
Preliminary Quarterly Revenue Increase of 47-51% and Comparable
2017 Second Quarter Increase of 330-340% and Fiscal Year 2018 Net
Revenue Annual Guidance Adjusted Upwards to at Least $22
Million
SAN
DIEGO, July 17, 2018 – Innovus Pharmaceuticals, Inc.,
(“Innovus Pharma”) (OTCQB: INNV), today announced
preliminary second quarter 2018 net revenue is estimated to be
between $6.6 million to $6.8 million or an approximate 47-51%
increase from the first quarter of 2018 and an approximate increase
of 330-340% from the second quarter of 2017. Innovus Pharma's second
quarter 2018 anticipated revenue results are preliminary and based
on the most current information available and are subject to
completion of the condensed consolidated financial statements for
the second quarter of 2018, which are to be filed with the SEC no
later than August 14, 2018.
“We
are seeing exceptional growth in our sales channels, additional
markets and product pipeline which now stands at 32 products in the
United States and overall net revenue growth during 2018 with our
estimated second quarter net revenue of between $6.6 million to
$6.8 million. Because of our continued strong growth, we have
adjusted our 2018 annual revenue guidance from $18 million to at
least $22 million. We believe our revenue growth into 2018
highlights the continued strength of our ability to sell multiple
products and increase the sales channels through our Beyond
Human™ sales and
marketing platform, direct mailing, e-commerce sites and other
sales channels,” stated Bassam Damaj, President and Chief
Executive Officer of Innovus Pharma. “We also continue to
work hard towards our goal of 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
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.fluticare.com;
www.allervarx.com;
and www.apeaz.com.
* Population data for Florida and Texas gathered from the 2010
Census Brief from the United States Census Bureau.
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.
# #
#
For more information, please contact:
Randy
Berholtz
Innovus
Pharma Investor Relations
Tel: +1
858 249 7865
ir@innovuspharma.com