With the introduction of Nyloxin OTC, we now believe we can offer a more well-rounded product line that covers a much broader spectrum of the pain management market.
Plantation, FL (Vocus) November 20, 2009
Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today the introduction of Nyloxin OTC for the treatment of chronic pain. Nyloxin OTC will be marketed and sold internationally alongside the Company's prescription pain reliever, Nyloxin Rx.
"Nyloxin OTC is an important addition to our line of pain relievers and offers many benefits similar to that of Cobroxin, our over-the-counter pain reliever currently being marketed and sold in the United States" explained Dr. Paul Reid, CEO of ReceptoPharm. "By introducing our pain relievers internationally under a single, unified brand, Nyloxin, we can better leverage our growth overseas as we complete the required registrations and build awareness for both our prescription pain reliever, Nyloxin Rx, as well as our over-the-counter pain reliever, Nyloxin OTC," he added.
Nutra Pharma recently announced its intention to begin the drug registration process for its pain relievers in Canada, Europe, and South America. The Company expects to have these registrations completed in the near term and plans to subsequently launch Nyloxin Rx and Nyloxin OTC in those territories through select international licensees.
"The international pain market represents a significant growth opportunity for our company, especially in countries where there is limited access to opiate-based medicines," explained Rik J Deitsch, Chairman and CEO of Nutra Pharma. "With the introduction of Nyloxin OTC, we now believe we can offer a more well-rounded product line that covers a much broader spectrum of the pain management market," he concluded.
Nyloxin OTC, which was developed by Nutra Pharma's wholly-owned drug discovery subsidiary, ReceptoPharm, will be available as an oral spray for treating lower back pain, migraines, neck aches, shoulder pain, cramps and neuralgia and as a topical gel for treating joint pain and pain associated with repetitive stress and arthritis.
About Nutra Pharma Corp.
Nutra Pharma Corp. is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases. Nutra Pharma Corp. through its subsidiaries carries out basic drug discovery research and clinical development and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process. The Company's subsidiary, ReceptoPharm, Inc., is developing these technologies for the production of drugs for HIV and Multiple Sclerosis ("MS"). The Company's subsidiary, Designer Diagnostics, is engaged in the research and development of diagnostic test kits designed to be used for the rapid identification of infectious diseases such as Paratuberculosis (para-TB) and Mycobacterium avium-intracellulare (MAI). Nutra Pharma continues to identify and acquire intellectual property and companies in the biotechnology arena.
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). Introducing Nyloxin OTC for international distribution should not be construed as an indication in any way whatsoever of the value of the Company or its common stock. The Company's filings may be accessed at the SEC's Edgar system at http://www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
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