San Diego, CA -- (SBWIRE) -- 04/16/2015 -- Innovus Pharmaceuticals, Inc., ("Innovus Pharma" or the "Company) http://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 Sothema Laboratories, ("Sothema") received marketing authorization for Zestra® in the United Arab Emirates (the "UAE").
"We are very happy with the progress being made by our partner Sothema on the commercialization of Zestra® in its licensed territories. Although this partnership was signed in late 2014, Sothema has been very aggressive in its approval and launch timelines as they already received approvals in two countries (Morocco and the UAE) and launched in Morocco and expected to launch in the UAE very shortly. We look forward to a successful launch in the UAE and the rest of the countries in the Sothema territory," said Dr. Bassam Damaj, President & Chief Executive Officer of Innovus Pharma. Sothema initiated the filing for Zestra® in most of its licensed territories so we expect Zestra® to be available in many countries in 2015 continued Dr. Damaj.
The Company is scaling up its manufacturing by four times to accommodate the current product orders from its partners.
On September 28, 2014, Innovus Pharma granted to Sothema an exclusive license to market and sell Innovus Pharma's topical treatment for Female Sexual Desire Disorder ("FSI/AD") as approved by Health Canada, Zestra®, and its high viscosity water-based lubricant Zestra Glide® in the North African countries, the Gulf Countries Middle East (excluding Lebanon and Israel) and in certain countries in West Africa. Under the agreement as disclosed at that time, Innovus received an upfront payment and is eligible to receive up to approximately $171.25 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.
About Zestra® and FSI/AD
Zestra® is a patented blend of natural oils clinically-proven in double-blind placebo-controlled clinical trials in 276 women to increase in a statistical significant manner the arousal, desire and sexual satisfaction in FSI/AD women. Zestra® is the first NHP product to receive approval for the indication of FSI/AD in Canada. To date, no product has been approved to treat FSI/AD, a persistent or recurring inability to attain or maintain adequate sexual excitement until the completion of a sexual activity. The diagnosis can also refer to an inadequate lubrication-swelling response normally present during arousal and sexual activity causing personal distress. Published papers on the FSI/AD market size estimate it to be equal or larger than the market for erectile dysfunction in males, and possibly larger. Zestra® is currently available in the United States, Canada and Morocco.
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.
For more information, go to http://www.innovuspharma.com/, http://www.zestra.com/ ; http://www.ejectdelay.com/ ; UPTICK Newswire