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: http://www.news-medical.net/news/20130520/Patient-compliance-an-interview-with-Dr-Bassam-Damaj-CEO-of-Innovus-Pharma.aspx.
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 itching."
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 at innovuspharma.com.