CORAL SPRINGS, FL--(Marketwired - Feb 5, 2015) - Nutra Pharma Corporation (OTC: NPHC), a biotechnology company that is developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain, announced today that they have shipped their initial test orders of their Over-the-Counter pain drug, Nyloxin®, to S.Zhaveri Pharmakem for distribution throughout India.
"In mid-2013 we announced that we had received notification that our patent and trademarks for the Nyloxin® line of pain relievers had been published in India's Official Journal, allowing for patent and brand protection in the country," stated Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation. "Since that time, we've been working diligently with importers to arrange for all of the paperwork and regulatory documentation necessary for this initial shipment," he continued. "After this first shipment, our team will travel to Mumbai to meet with the Distributors and work out the details for mass distribution throughout India. That trip is expected to take place by mid-March," he concluded.
According to a 1998 study published in the Journal of the American Medical Association (JAMA), it was estimated that 19% of patients evaluated in India suffered from persistent pain. An additional 2007 report from the Journal of Pain and Symptom Management, documented that only 0.4% of India's population in need of opioids for pain relief had access to them. In a 2014 Euromonitor report, the analgesic market in India reached over $274 million annually but consisted mostly of low-cost, OTC therapies.
"I am very happy to work with Nutra Pharma to get Nyloxin into India," commented Mark Kumar, Director of ITG Exim, Nutra Pharma's import agent for India. "The market for Nyloxin is substantial for a variety of reasons," he continued. "The population of India is over 1.2 billion people with a growing middle class that is expected to reach over 250 million people in the next five years. Additionally, the Indian people will readily accept a pain therapy derived from cobra venom. And lastly, Indian doctors have the lowest prescription rate for opiate medications in the world. This leaves a wide open market for a strong pain-reliever like Nyloxin," he concluded.
Nyloxin® is an over-the-counter (OTC) pain reliever clinically proven to treat moderate to severe (Stage 2) chronic pain. Nyloxin® is currently available as an oral spray for treating back pain, neck aches, headaches, joint pain, migraines, and neuralgia, and as a topical gel for treating joint pain, neck pain, arthritis pain, and pain from repetitive stress. In addition to its everyday strength formulation, Nyloxin® is also offered in an extra strength formula for more advanced, Stage 3, chronic pain.
About Nutra Pharma Corp.
Nutra Pharma Corporation operates as a biotechnology company specializing in the acquisition, licensing, and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune, and infectious diseases, including Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain. Additionally, the Company markets drug products for sale for the treatment of pain under the brand Nyloxin® and Pet Pain-Away. For additional information about Nutra Pharma, visit:
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The shipment of Nyloxin to India should not be construed as an indication in any way whatsoever of the future value of the Company's common stock or its financial value. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.