Innovus Pharma Signs $2 Million a Year Exclusive License and Distribution Agreement with J&H Co. LTD for Zestra® for Female Sexual Arousal in South Korea
Agreement Currently Expected to Add $20 million in Revenues Over
the Life of the Agreement
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 the signing of an exclusive
license and distribution agreement with J&H Co. LTD (“J&H”) for the
commercialization of Zestra® in South Korea. The exclusive 10-year
agreement includes a minimum of $2 million per year in sales to the
Company for a total of $20 million over the life of the agreement.
“We are pleased to partner with such a successful consumer products
distributor such as J&H, making Zestra® available to consumers in South
Korea,” said Innovus CEO, Dr. Bassam Damaj. “This partnership, our 15th
partnership outside the United States, shows our commitment to making
our products commercially available in markets outside of the United
States and achieving our 2017 goals of $15 million in revenue and
profitability.”
Zestra® is currently exclusively partnered with Orimed Pharma in Canada,
DanaLife in select European markets, Sothema Labs for the Middle East
and North Africa, Elis Pharma in Turkey and certain select markets, Oz
Biogenics for Myanmar and Vietnam, Biotask in Malaysia and
non-exclusively to PT in Hong Kong and certain select Asian markets.
Zestra® is approved in Canada, India, Hong Kong, the United Arab
Emirates (“UAE”), United Kingdom and Morocco. In addition to the United
States, the largest market for Zestra®, Innovus Pharma currently
generates Zestra® revenues from the following markets: Canada, Morocco,
certain European countries and Hong Kong.
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. To the Company’s knowledge, 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.
Approximately 43% of women in the United States age 18 to 59, or 50
million, experience some form of Female Sexual Dysfunction (FSD)
according to a published study. (Laumann, E.O. et al. Sexual Dysfunction
in the United States: Prevalence and Predictors. JAMA, Feb. 10, 1999.
vol. 281, No. 6.537-542). The FSD market is estimated to be more than $1
billion per year. For more information on Zestra® visit http://www.zestra.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 respiratory
diseases. The Company generates revenues from its lead products (a) BTH®
Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for
female arousal and (d) EjectDelay® for premature ejaculation and has an
additional five marketed products in this space, including (e) Sensum+®
for the indication of reduced penile sensitivity, (f) Zestra Glide®,
(g)Vesele® for promoting sexual and cognitive health, (h) Androferti®
(in the US and Canada) to support overall male reproductive health and
sperm quality, (i) BTH Vision Formula, (j) BTH Blood Sugar, among others
and eventually FlutiCare™ OTC for Allergic Rhinitis, if its ANDA is
approved by the U.S. FDA.
For more information, go to http://www.innovuspharma.com, http://www.zestra.com;
http://www.ejectdelay.com; http://www.myvesele.com; http://www.sensumplus.com;
http://www.myandroferti.com; http://www.beyondhumantestosterone.com;
http://www.getbeyondhuman.com; http://www.trybeyondhuman.com; http://www.recalmax.com.
About J&H Co. LTD
Headquartered in Seoul, South Korea, J&H is a holding company involved
in the retail sales and distribution of consumer products through its
many subsidiaries including, Lotte retail stores in South Korea, Hermes,
Janemoor Global Korea, Sonnenmoor Korea, JimmyJane Korea and The Gadget.
In addition, J&H is the Korean partner for JD.com, or Jingdong Mall
(formerly 360buy), one of China’s largest B2C online retailers and
electronic commerce company and a major competitor of Alibaba’s Tmall.
For more information, please visit:
http://ir.jd.com/phoenix.zhtml?c=253315&p=irol-newsArticle&ID=2085773.
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 the Zestra® product in South Korea,
projected online subscribers, 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 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.
Contacts
Chesapeake Group
Kevin Holmes, 410-825-3930
info@chesapeakegp.com
