Innovus Pharma Announces Planned Expansion into CBD Oil-Based Products Market
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 plans to expand its product line into the hemp-derived CBD (“Cannabinoid”) oil-based products market beginning in the fourth quarter 2018 with the introduction of MZS Sleeping Aid™, a supplement in tincture form delivering a 3 mg dose of melatonin per serving that incorporates either 100 or 250 mg of hemp-derived CBD oil. The product is intended to be sold as a supplement in the U.S. and eventually, pending regulatory approval, into the Canadian market. Innovus is also interested in expanding into other products using hemp-derived CBD oil that can benefit its customers in both countries and in other markets throughout the world.
MZS Sleeping Aid™ is currently expected to be launched in states in the U.S. where hemp-derived CBD products may be sold. The product to be launched will not contain any THC (Tetrahydrocannabinol) and is designed to be compliant with applicable U.S. state and federal laws.
“We are very excited to be expanding into the hemp-derived CBD oil-based product market with the commercialization of this melatonin product that includes CBD oil intended for persons to improve their sleep,” said Dr. Bassam Damaj, the President and Chief Executive Officer of Innovus Pharma. “The successful commercialization of this product will hopefully lead to our development of more products utilizing hemp-derived CBD oil-based ingredients. By developing and commercializing such products, we believe we are expanding our product offerings to provide our customers with a CBD alternative to realizing and achieving their healthcare goals.”
About Innovus Pharmaceuticals, Inc.
Headquartered in San Diego, Innovus Pharma 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.
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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 sale of its future CBD oil-based products, 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.
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