Innovus Pharmaceuticals, Inc. (OTCQB: INNV) is engaged as a commercial-stage pharmaceutical company, which focuses on treatments for Men’s/Women’s health and respiratory diseases. Shares of the pharmaceutical company are gaining 3.73%, through early trading on Friday, September 8, 2017. Over the past month, Innovus Pharmaceuticals, Inc. has seen average daily volume of 371,109 shares. However, volume of 203,926 shares or dollar volume of $21,820, has already exchanged hands on Friday.
Shares of Innovus Pharmaceuticals, Inc. are rallying today, after the company recently announced that it has received approval from Health Canada to add its UriVarx treatment as a Natural Health Product (NHP), which is meant to treat overactive bladder. Other than UriVarx, the company has three commercialized and approved treatments in Canada. Here is the full press release detailing of the Health Canada approval:
Innovus Pharmaceuticals, Inc. Press Release:
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 has received approval from Health Canada to add its clinically proven UriVarx™ product as a Natural Health Product (“NHP”) with the indication to Reduce Symptoms of Overactive Bladder (“OAB”) such as Daytime Urinary Frequency, Urgency and Nocturia.
“OAB is a serious medical condition that affects millions of Canadians each year. However, the medications currently available may cause significant side effects, leading many patients to stop treatment. That’s why Innovus Pharma is so pleased to offer this new natural treatment option,” said Dr. Bassam Damaj, the President and Chief Executive Officer of the Company.
In addition to four approved products in Canada, Innovus Pharma has filed for approval for two more of its products, namely Vesele® and AllerVarx™, and is expected to file for at least two additional product approvals in that country before the end of the year.
“With our growing approved pipeline of products and our current three commercialized products in Canada, we are assessing the launch of our Beyond Human® sales and marketing platform in Canada to boost the sales of our products there,” Dr. Damaj continued.
UriVarx™ is clinically proven to reduce urinary urgency, accidents and both day and night frequency in OAB and Urinary Incontinence (“UI”) patients.
UriVarx™ has undergone two double blind and comparative trials in both male and female OAB and UI patients. The clinical results include:
- Reduction of ~56% in Urge Incontinence;
- Reduction of ~66% in Stress Incontinence;
- Reduction of ~61% in Urinary Urgency;
- Reduction of ~33% in Urinary Frequency meaning the total average urinary frequency was in the normal/ideal range after two months of use; and
- Reduction of ~46% in Nocturia.
According to the Canadian Continence Foundation (the “Foundation”), OAB is a medical term that describes various symptoms caused by involuntary bladder spasms, including urinary frequency, especially at night, and urgency with or without involuntary leakage. These symptoms may occur without obvious cause or be secondary to certain diseases of the nervous system. The Foundation estimates that nearly 1 in 5 Canadians over the age of 35 suffers from overactive bladder. The condition, with frequency and urgency only, affects men and women of all ages, although most are under age 65.*
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharmaceuticals, Inc. 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.
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 UriVarx™ product in Canada if approved in that country, 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.