Innovus Pharma announces the approval to commercialize Zestra in South Korea through its partner J&H Co. LTD.
Innovus Pharmaceuticals, Inc., an emerging over-the-counter consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of non-prescription medicine and consumer care products to improve men’s and women’s health and vitality and respiratory diseases, announced that its partner J&H Co. LTD, a South Korean company, received approval to commercialize Zestra from the Korean government.
Innovus Pharma announced on November 29, 2016 the signing of an exclusive license and distribution agreement with J&H for the commercialization of Zestra in South Korea. The exclusive10-year agreement includes a minimum of $2 million per year in sales of Zestra to the Company for a total of $20 million over the life of the ten-year term of the agreement.
“We are pleased with the expedited process taken by our partner to secure approval to import and commercialize Zestra in South Korea and we look forward to shipping our first product to that country this month,” said Innovus Pharma CEO, Dr. Bassam Damaj.
Zestra is currently exclusively partnered with Orimed Pharma in Canada, DanaLife in select European markets, Sothema Labs for the Middle East and North Africa, Elis Pharma in Turkey and certain select markets, Oz Biogenics for Myanmar and Vietnam, Biotask in Malaysia, J&H in South Korea and non-exclusively to PT Laras Bumi Resources, LTD in Hong Kong.
Zestra is currently approved to be marketed and sold in Canada, India, Hong Kong, the United Arab Emirates, the United Kingdom, Morocco and South Korea. In addition to the United States, the largest market for Zestra, Innovus Pharma currently generates Zestra revenues from the following markets: Canada, Morocco, certain European countries and Hong Kong.
Zestra is a patented blend of natural oils clinically-proven in double-blind placebo-controlled clinical trials in 276 women to increase in a statistical significant manner the arousal, desire and sexual satisfaction in FSI/AD women. To the company’s knowledge, Zestra is the first NHP product to receive approval for the indication of FSI/AD in Canada. To date, to Innovus Pharma’s knowledge, no product has been approved to treat FSI/AD, a persistent or recurring inability to attain or maintain adequate sexual excitement until the completion of a sexual activity.
Approximately 43 percent of women in the United States age 18 to 59, or 50 million, experience some form of Female Sexual Dysfunction (FSD) according to a published study. (Laumann, E.O. et al. Sexual Dysfunction in the United States: Prevalence and Predictors. JAMA, Feb. 10, 1999. vol. 281, No. 6.537-542). The FSD market is estimated to be more than $1 billion per year. www.zestra.com.
(Source: Business Wire)