Patient Compliance: an Interview With Innovus Pharma CEO Damaj Outlines
Worldwide Growth Plans for the Company
LA JOLLA, Calif., May 21, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals,
Inc., ("Innovus Pharma") www.innovuspharma.com (OTCBB:INNV), today announced
that Dr. Bassam Damaj, Chief Executive Officer, was recently interviewed by
News-Medical.Net medical information service. The interview is available at:
Damaj gave an expert opinion on patient compliance and its impact on
effectiveness and safety of medications. He also described the unique features
of Innovus products which ensure and enhance patient compliance, his plans for
Innovus since he became CEO in January, 2013, and his previous experience.
Damaj noted that compliance adherence to medication has been a growing issue
in the medical field and has led Innovus to focus on patient compliance, which
results in improved clinical benefit.
Examples include the Innovus portfolio of dermatology products that are
specifically designed to help patients achieve better compliance such as
Zytopic for the treatment of atopic dermatitis. The active ingredient in
Zytopic is triamcinolone acetonite, a steroid which has been available for
many years. "Innovus is marketing it in a unique, kit format," Damaj said.
The kit contains a soap-free cleanser to help remove dead skin and open up the
pores; Zytopic, the active product; and a long-lasting moisturizer. Atopic
dermatitis results in itching, scratching and peeling. Damaj added, "The
Innovus kit enables the patient to clean the skin, remove dead skin and open
the pores, followed by application of the active drug, which can lead to
greater efficacy and then the moisturizer to help reduce recurrence of
Damaj noted that he specializes in finding neglected opportunities in the
pharmaceutical market, a skill that will help him to build the commercial
pipeline at Innovus, as he has done at other companies. "Innovus has built a
commercial pipeline that will allow the company to execute partnerships and
start generating revenues for the company," he added.
Damaj anticipates over the next three to five years, the Innovus product line
will specialize in treatments for diseases in sexual dysfunction, dermatology,
respiratory illness, and inflammation and pain areas, which are large markets
and in which the number of patients is on the rise.
Innovus will continue to focus on building commercial partnerships for its
products in order to start generating revenues on a worldwide basis, with its
main goal of listing the company on NASDAQ in 2014.
Damaj was appointed President & CEO of Innovus on January 22, 2013. Before
joining Innovus Pharma, he was President & Chief Executive Officer of Apricus
Biosciences, Inc. from December, 2009 until November, 2012.
At Apricus Bio, Dr. Damaj was responsible for the approval of its lead drug
Vitaros, a treatment for erectile dysfunction. Dr. Damaj also signed
multimillion dollar partnerships between Apricus Bio and leading
pharmaceutical companies such as Abbott, Novartis-Sandoz and Takeda.
At Apricus Bio, he successfully designed and executed on a business plan that
resurrected the Company, its technology platform and its products, and grew
the company to over $100M in market capitalization.
For more information, go to: www.innovuspharma.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of
1995: 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 be considered to be "forward-looking
statements" within the meaning of the Securities Act of 1933 and the
Securities Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995.Forward-looking statements involve risks and
uncertainties that may individually or mutually impact the matters described
in this release for a variety of reasons, many of which are outside the
control of Innovus Pharma.These risks and uncertainties include, but are not
limited to Innovus Pharma's ability to negotiate the definitive agreements for
the acquisition of the line of prescription products in dermatitis on terms
and conditions satisfactory to it, Innovus Pharma's ability to raise
sufficient capital to fund its operations and growth strategy in the long
term, Innovus Pharma's ability to achieve its development, regulatory,
commercialization and financial goals for its existing products, its ability
to acquire additional products, and its ability to achieve development,
regulatory, commercialization and financial goals for such additional
products.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
and other filings made with the SEC. Copies of these reports are available
from the SEC's website or the "Investors" section of Innovus Pharma's website
CONTACT: Innovus Pharma Contact:
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