9/9/2013 9:33:26 AM
LA JOLLA, Calif., Sept. 9, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc., ("Innovus Pharma") www.innovuspharma.com (OTCBB:INNV) announced today it has entered into a license and distribution agreement with Ovation Pharma SARL ("Ovation Pharma") under which Innovus Pharma granted to Ovation Pharma an exclusive license to market and sell Innovus Pharma's topical treatment for reduced penile sensitivity, CIRCUMserum™, in Morocco. Ovation Pharma may pay Innovus Pharma up to approximately $11.25 million for commercial milestones. In addition, Ovation Pharma has agreed to certain upfront minimum purchases of CIRCUMserum based upon an agreed upon transfer price and yearly minimum purchases.
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