SAN DIEGO--(BUSINESS WIRE)--
Innovus Pharmaceuticals, Inc. ("Innovus Pharma" or the “Company”) (OTCQB Venture Market: INNV), an emerging commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter medicine and consumer care products to improve men’s and women's health and respiratory diseases, today announced that it ordered 220,000 units of its FlutiCare™ drug destined for its projected launch in Q4 2017 in the U.S. The Company is on target with its planned launch in the fourth quarter of 2017 of its FlutiCare™ product, the third national branded OTC fluticasone propionate nasal spray in the allergic rhinitis market. Innovus Pharma will launch the 120 spray version of the drug which it believes has the highest potential profit margin for the Company.
The Company ordered one batch of the drug from its partner West-Ward for Q4 2017 and has committed multiple batches for 2018 and 2019 and currently expects to receive over $3.0 million in gross revenues for each batch it sells in the U.S. market.
As part of those commercialization efforts, the Company has or is completing the following tasks:
- Receiving the first commercial batch of 220,000 units is expected to be delivered in September/October 2017;
- Finalizing agreements with wholesalers, retail stores in which we are a vendor of record and independent pharmacies;
- Preparing to provide sampling to the top 20% prescribers of fluticasone propionate nasal spray;
- Creating direct sampling and coupon programs to consumers to continue to build brand awareness;
- Preparing to launch under its Beyond Human® sales and marketing platform through print and online media; and
- Preparing to launch through its online platforms including our website, its over 2 million email subscriber lists and Amazon® stores.
“We are very excited about the upcoming commercial launch of our FlutiCare™ product in the United States,” said Dr. Bassam Damaj, the President and Chief Executive Officer of Innovus Pharma. “We have ordered our initial commercial batch of the product, are finalizing our on-line, Beyond Human®, retail and wholesale sales and marketing efforts and are gearing up for a successful launch of FlutiCare™ in the fourth quarter of this year. We believe that the launch of FlutiCare™ should have an important impact on the gross revenues of the Company in the future for 2017 and beyond.”
FlutiCare™ is the Company’s nationally branded OvertheCounter (“OTC”) fluticasone propionate nasal spray, USP 50 mcg per spray, which is indicated to treat individuals with allergic rhinitis, or more commonly referred to as “allergies”. Allergic rhinitis is one of the most common ailments in the western world and is continuing to grow as there are approximately 50 million sufferers in the U.S. alone according to GlobalData.
FlutiCare™ is the first and only nationally branded OTC product under approved ANDA No. 207957 in the U.S. market. FlutiCare™, which is equivalent to Flonase® by GlaxoSmithKline and ClariSpray® by Bayer, is the third national brand being marketed and sold in the U.S. Innovus Pharma will be launching the 120-spray version through its various marketing and sales channels.
The trademark Flonase® is a registered trademark owned by GlaxoSmithKline and the trademark ClariSpray® is a registered trademark owned by Bayer®.
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; www.pevarx.com and www.apeaz.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, projected revenues from its FlutiCare™ product and other products in the United States and abroad estimated market for its products, and statements about achieving its other 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.