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 that its subsidiary, Novalere, Inc., has launched its product line into the hemp-derived, cannabinoid (“CBD”) oil-based products with the introduction of MZS Sleeping Aid™, a dietary supplement in tincture form delivering a 3 mg dose of melatonin per serving that incorporates either a 100 or 250 mg of hemp-derived CBD oil.
MZS Sleeping Aid™ has been launched in states in the U.S. where hemp-derived CBD products may be sold. In accordance with current regulations the Company will not sell this product in any states where it is illegal to do so. The product does not contain any Tetrahydrocannabinol (“THC”) and is designed to be compliant with applicable U.S. state and federal laws.
“We are excited to announce the launch of our MZS Sleeping Aid™ product,” said Dr. Bassam Damaj, the President and Chief Executive Officer of Innovus Pharma. “This product is a melatonin-based product that includes CBD oil intended to support individuals’ sleep. We are launching this product through our powerful and proprietary Beyond Human® Sales & Marketing Platform in those U.S. states into which such products are permitted by law. We are currently interested in developing additional future hemp-derived CBD oil-based ingredients into products and launching them and in providing our customers with a line of CBD alternative supplements to realize and achieve their personal healthcare goals.”
According to data published in the Hemp Business Journal, the CBD market is estimated to grow to approximately $2.1 billion in consumer sales by 2020, with $450 million of those sales coming from hemp-based sources, which is a 700% increase from 2016. Demand for hemp-based CBD products is also growing quickly, indicated by the above data, due in part to the variety of ways it can be used in products such as that in health supplements among others.
The strategy of the Company has been to enter the CBD market once there is credible and empirical published evidence to support concrete health benefits and by adding its formulation of melatonin trusted by our consumers for additional health benefits. These hemp-derived CBD oil products combined with the growing consumer demand for them, aligns with Innovus Pharma’s mission to provide people with solutions and products to lead healthy lives.
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.
For more information, go to www.innovuspharma.com; www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.urivarx.com; www.sensumplus.com; www.myandroferti.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.prostagorx.com; www.fluticare.com; www.allervarx.com; www.apeaz.com; www.diabasens.com; www.novalere.com and www.mzssleepingaid.com.
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 hemp-derived, 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.
