Innovus Pharmaceuticals has announced that the acquisition of Novalere FP and its FlutiCare fluticasone propionate nasal spray. According to documents related to the merger filed with the US Securities and Exchange Commission (SEC), Novalere FP filed an ANDA for the product with the FDA in November 2014. The company says that it expects that the ANDA “may be approved by the end of 2015 or in the first half of 2016.”
Products currently marketed by Innovus include a hemorrhoid cream, an arthritis cream, and several “sexual dysfunction treatments.”
Innovus Pharma President and CEO Bassam Damaj commented, “This transaction is transformative for Innovus. The nasal steroid market in the United States is undergoing a revolution with the expected launch of fluticasone propionate nasal spray in the US, transitioning this market to an Over-the-Counter (“OTC”) market. We expect to play a significant role in this market and hopefully in other markets throughout the world by proposing to consumers an alternative product using the product form they have been used to as a prescription medicine for years. Access to the same product form for consumers may support better compliance and better outcome for consumers; many of them use the nasal spray on a continuous basis because they have a chronic condition.”
Damaj continued, “There is significant synergy between the potential of FlutiCare and the growing infrastructure Innovus Pharma is building both domestically and internationally. We expect that our capabilities and infrastructure together with the investor support will take Innovus to the next level as a growing profitable OTC company.”
Read the Innovus Pharmaceuticals press release.
