Innovus Pharmaceuticals Announces the Official Launch of Sensum+® in Morocco by its Partner Ovation Pharma with an Initial Order of Approximately 240,000 Doses
San Diego, CA, May 12, 2015 (Newswire.com) - Innovus Pharmaceuticals, Inc., ("Innovus Pharma" or the "Company) www.innovuspharma.com (OTCQB: INNV) a company focusing on the commercialization of over-the-counter ("OTC") and consumer products for men’s and women’s health, vitality and respiratory diseases announced today that its partner Ovation Pharma officially launched Sensum+® in Morocco. The launch took place during the annual meeting of the Moroccan Association of Urology in Rabat from May 07 to May 09. Ovation Pharma launched the product with an initial order of approximately 240,000 doses. Sensum+® is currently promoted by Ovation Pharma sales force and will be placed behind the counter and dispensed with a physician prescription.
"This is our third product launched in Morocco, following the launch of our products Zestra® and Zestra Glide® by our partner Sothema Labs earlier in the year. Sensum+ is a unique product for a large indication and we look forward to a successful market penetration by our partner Ovation Pharma," said Dr. Bassam Damaj, President & Chief Executive Officer of Innovus Pharma.
On September 9, 2013 Innovus Pharma granted to Ovation Pharma an exclusive license to market and sell Innovus Pharma's topical treatment to increase penile sensitivity in Morocco. Under the agreement, Innovus is eligible to receive up to approximately $11.2 million U.S. dollars upon and subject to the achievement of sales milestones based on cumulative supplied units of the licensed products in the Territory plus a pre-negotiated transfer price per unit and minimum orders.
About Sensum+® and Reduced Penile Sensitivity
Sensum+® is a patented blend of essential oils and natural botanicals including rose oil, sweet almond oil, cinnamon bark oil, and other extracts. The main ingredient of Sensum+® (cinnamon oil) works by activating the Transient Receptor Potential A1 (TRPA-1) channels responsible for the heat and cold sensation of the skin and results in an increase of sensation that current users welcome and appreciate. The safety and efficacy of Sensum+® was evaluated in 2 post marketing survey studies in circumcised and non-circumcised men. A total of 382 men used Sensum+® twice daily for fourteen consecutive days followed by once daily for 8 weeks and as needed thereafter.
For more information visit www.sensumplus.com.
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC and consumer products for men's and women's health and vitality. The Company generates revenues from its lead products Zestra® for female arousal and EjectDelay® for premature ejaculation and has a total of five marketed products in this space, including Sensum+® for the indication of reduced penile sensitivity, (for sales outside the U.S. only), Zestra Glide®, Vesele® for promoting sexual and cognitive health, Androferti® (in the US and Canada) to support overall male reproductive health and sperm quality, and FlutiCare™ OTC for Allergic Rhinitis.
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, receiving approval or to be compliant with the requirements of any relevant regulatory authority relating to such products such as Sensum+®, to successfully commercialize such products in the Morocco and in other countries and regions, 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, 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.