REDONDO BEACH, CA--(Marketwired - Aug 25, 2016) - SECFilings.com, a leading financial news and information portal offering free real time public company filing alerts, recently published an article highlighting the potential FDA approval of Innovus Pharmaceuticals' (OTCQB: INNV) FlutiCare™ in the nasal allergy market following the recent approval of Bayer AG's ClariSpray™.
Bayer AG expanded its allergy portfolio in the United States to include ClariSpray™, a 24-hour nasal spray to treat allergy symptoms, in April 2016. Though the two drugs contain different ingredients, the company was looking to play off of the already successful Claritin™ brand. Despite a weak allergy season in the United States, the company's Claritin™ division 'developed positively' during the second quarter 'due primarily' to the launch of the nasal spray, with revenue expanding by a currency-adjusted 11% to $178 million euros.
ClariSpray™ is an over-the-counter nasal spray that contains fluticasone propionate, which is the generic name of Glaxosmithkline plc's Flonase. The new product's success shouldn't come as a surprise to those following the nasal spray market. According to some sources, Glaxosmithkline's Flonase peaked at around $1.3 billion in sales, which places it clearly in the 'blockbuster' category of drugs. The company has only a handful of competitors in the market at the moment, which has created a great opportunity for Bayer to take advantage of the gap.
Currently, FlutiCare™'s fluticasone propionate is awaiting an ANDA decision from the FDA that's expected over the coming month or two. With the drug's robust safety and efficacy profile, Innovus doesn't expect to meet any resistance from the FDA when making the decision. Management has also already signed a manufacturing agreement for the supply of FlutiCare™ 60 and 120 spray bottles and plans to leverage its existing distribution network that reaches over 30,000 stores in the U.S.
To read the full article, please click here: http://analysis.secfilings.com/articles/58-bayer-s-clarispray-success-bodes-well-for-innovus-pharmaceuticals-fluticare
For more information, visit the company's website at www.innovuspharma.com or download our free Company Analysis.
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Last updated on: 27/08/2016
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