PALM BEACH, Florida, January 24, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Increasing inclination of the populace towards self-medication for treatment of minor health conditions, low pricing of these drugs, convenience of direct purchase, as well as innovations and developments in the dosage forms of these drugs is fueling the market for OTC drugs. Large and small companies alike are entering into strategic alliances and partnerships with global companies in distant geographies to market their products with the help of established companies in the area. According to a report published by TransparencyMarketResearch.com, the global market for over-the-counter health products of powder form is projected to experience incremented demand at a CAGR of 3.6% during the forecast period of 2017 to 2025, which is primarily a reflection of growing awareness among the consumers regarding the prevalence of lifestyle diseases. Active stocks in the Healthcare industry with market performance and recent developments include: Innovus Pharmaceuticals, Inc. (OTC: INNV), Synergy Pharmaceuticals Inc. (NASDAQ: SGYP), Novavax Inc. (NASDAQ: NVAX), Idera Pharmaceuticals Inc. (NASDAQ: IDRA), CytRx Corporation (NASDAQ: CYTR).
Innovus Pharmaceuticals, Inc. (OTCQB: INNV), an emerging over-the-counter ("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, announced this week the signing of an exclusive license and distribution agreement with Lavasta Pharma FZ-LLC, a company based in Dubai ("Lavasta") for the commercialization of ProstaGorx® in the Kingdom of Saudi Arabia, Algeria, Egypt, the United Arab Emirates, Lebanon, Jordan, Kuwait, Morocco, Tunisia, Bahrain, Oman, Qatar, and Turkey, among other countries. Under the agreement, Innovus Pharma will receive an up-front license payment, will sell the products to Lavasta at set supply prices and Lavasta has certain minimum annual purchase requirements. Read this and more news for INNV at: http://www.marketnewsupdates.com/news/innv.html
"We are pleased to expand our international exports of our products through the introduction of our ProstaGorx® product in the Middle East and North Africa regions through this partnership with Lavasta," said Innovus Pharma CEO, Dr. Bassam Damaj. "Lavasta is our 19h distribution partner for our products outside the United States and represents our second major partnership to sell one of our core U.S. products abroad," said Innovus CEO Dr. Bassam Damaj. "This partnership is one more step towards achieving our 2018 corporate goals for expanded revenue and profitability from our many international distributors," continued Dr. Damaj. "We are excited to introduce ProstaGorx® to many countries throughout the Middle East. We believe this product meets large unmet needs in the region and we look forward to partnering with Innovus Pharma here through the use of our extensive marketing channels and sales forces in these countries," said Tara Banasi, President of Lavasta.
In other Healthcare, Biotech and Pharma market activity of note from trading yesterday:
Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) closed down very slightly on Tuesday $2.63 trading over 12.5 Million shares by the market close but was up slightly in afterhours trading. Synergy is a biopharmaceutical company focused on the development and commercialization of novel gastrointestinal (GI) therapies. The company has pioneered discovery, research and development efforts on analogs of uroguanylin, a naturally occurring and endogenous human GI peptide, for treatment of GI diseases and disorders.
Novavax Inc. (NASDAQ: NVAX) closed Tuesday up over 4% at $2.23 trading over 19.1 million shares by the market close and was also up in afterhours trading. Novavax, Inc. is a clinical-stage biotechnology company committed to delivering novel products to prevent a broad range of infectious diseases. Their recombinant nanoparticles and Matrix-M™ adjuvant technology are the foundation for groundbreaking innovation that improves global health through safe and effective vaccines.
Idera Pharmaceuticals Inc. (NASDAQ: IDRA) and BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) recently announced that they have signed a definitive merger agreement to form a new enterprise focused on the development and commercialization of medicines to serve more patients suffering from rare diseases. The combined company will be renamed upon closing and will be led by Vincent Milano, CEO of Idera, who will also serve as a member of the Board. BioCryst Chairman, Robert Ingram, will be Chairman of the Board of the combined company and BioCryst CEO Jon P. Stonehouse will serve as a member of the Board of Directors. "Both of our companies have aspired to become successful providers of therapeutics for patients suffering from rare life-threatening diseases. Both share a culture that puts patients first and keeps their interests at the very core of what we do, and how we do it," stated Vincent Milano, Idera's Chief Executive Officer. "By merging our unique talents, experiences and assets, we instantly strengthen our ability to become a significant force for patients suffering from a broad range of rare diseases."
CytRx Corporation (NASDAQ: CYTR) closed up over 24% on Tuesday at $2.27 trading over 2.9 million shared by the market close. Last week the company highlighted that aldoxorubicin licensee NantCell, Inc., a private subsidiary of NantWorks, LLC, has dosed the first patient in the Phase 1b portion of a Phase 1b/2 clinical trial for patients with metastatic pancreatic cancer. The trial will investigate high-affinity natural killer (haNK) cell therapy in combination with anti-cancer agents, including aldoxorubicin, in metastatic pancreatic cancer patients who have progressed on or following standard-of-care therapy. "NantCell's decision to include aldoxorubicin in this new trial speaks to their commitment to expanding its potential use in combination with immuno-oncology agents and cell-based therapies," said Steven A. Kriegsman, CytRx's Chairman and CEO. The trial titled 'QUILT-3.070: Molecularly Informed Integrated Immunotherapy Combining Innate High-affinity Natural Killer (haNK) Cell Therapy With Adenoviral and Yeast-based Vaccines to Induce T-cell Responses in Subjects With Pancreatic Cancer Who Have Progressed on or After Standard-of-care Therapy' (NCT03387098) is a single-center, open-label, Phase 1b/2 clinical trial designed to evaluate the safety and efficacy of several combination therapies, including combinations with aldoxorubicin, in subjects with pancreatic cancer who have progressed on or after previous standard of care chemotherapy.
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