Innovus Pharmaceuticals Reports Preliminary Annual 2018 Net Revenue of $24 Million
SAN DIEGO--(BUSINESS WIRE)--Mar 21, 2019--Innovus Pharmaceuticals, Inc. (“Innovus Pharma” or the “Company”) (OTCQB: INNV) today announced preliminary annual 2018 net revenue is estimated to be $24.0 million or approximately 2.7x the annual 2017 net revenue of $8.8 million. Innovus Pharma’s annual 2018 anticipated net revenue results are preliminary and based on the most current information available and are subject to completion of the audited consolidated financial statements for the year ended December 31, 2018, which are to be filed with the Securities and Exchange Commission (“ SEC ”) as part of the Company’s Annual Report on Form 10-K (“ Annual Report ”) no later than April 1, 2019. Actual results may differ from the preliminary results reported herein. Investors are encouraged to review the Company’s Annual Report when filed with the SEC.
“We are very happy with the increased growth in our sales channels, additional markets and product pipeline with our estimated annual 2018 net revenue of $24.0 million, which is in line with what we previously projected,” stated Bassam Damaj, President and Chief Executive Officer of Innovus Pharma. “We continue to work hard towards our operational and financial goals to increase the breadth of our product offerings and work to achieve potential profitability.”
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 be 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, its financial results, projected revenues, projected online subscribers and other customers, estimated markets for its products, and statements about achieving its other corporate and business 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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CONTACT: Randy Berholtz
Innovus Pharma Investor Relations
Tel: +1 858 249 7865
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Innovus Pharmaceuticals, Inc.
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PUB: 03/21/2019 06:02 AM/DISC: 03/21/2019 06:01 AM