CORAL SPRINGS, Fla., June 10, 2013 /PRNewswire/ -- Nutra Pharma Corporation (OTCQB: NPHC), a biotechnology company that is developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain, announced today that the Company has entered into a licensing agreement with Cobra Pharmaceuticals for the re-launch of their all-natural, non-addictive pain reliever - Cobroxin®, the first OTC pain reliever clinically proven to treat Stage 2 (moderate to severe) chronic pain.
The terms of the licensing agreement state that Cobra Pharmaceuticals will be responsible for marketing, distribution, inventory control and customer service of Cobroxin®. They will maintain exclusive rights in perpetuity provided that they maintain minimum quarterly sales that increase over time.
Cobroxin® is a homeopathic drug that utilizes proteins from cobra venom to relieve pain and inflammation. An analgesic that began gaining U.S. attention in 1936, cobra venom's effects in minute doses have been shown by researchers to be superior to that of morphine, a highly addictive opiate. The product is available in an easy-to-use oral spray for treating: lower back pain, migraines, neck aches, shoulder pain, cramps and neuralgia, as well as a topical gel for treating: repetitive stress, arthritis and joint pain.
Additional benefits to Cobroxin® include:
- All Natural
"We are excited to work with Cobra Pharmaceuticals on the re-introduction of Cobroxin back to the over-the-counter pain reliever marketplace," commented Rik J Deitsch, CEO of Nutra Pharma Corporation. "The product was widely available in stores throughout the United States in 2010 and was the first OTC clinically-proven for treating moderate to severe chronic pain, an affliction that affects millions," he continued. "Marketing and promotional initiatives are expected to begin in the 3rd quarter of 2013. The anticipated rollout model will include direct response (radio, television and print) followed by a traditional commercial campaign to support retail sales in the general marketplace. Cobra Pharmaceuticals will also begin international registrations later this year to bring Cobroxin® into the identified lucrative foreign markets of Central America, South America, India and the European Union. With an aggressive marketing and promotional plan in place, coupled with our eyes on these foreign markets, we believe that we are well-positioned for the future growth of our product and our company," concluded Mr. Deitsch.
Nutra Pharma has Trademarks for Cobroxin® in the United States, Colombia and India. Patents for the use of cobra venom in the treatment of pain have been issued in the United States and India.
About Nutra Pharma Corp.
Nutra Pharma Corporation operates as a biotechnology company specializing in the acquisition, licensing, and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune, and infectious diseases, including Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain. The Company markets several drug products for sale for the treatment of pain under the brands Cobroxin® and Nyloxin. For additional information about Nutra Pharma, visit: http://www.NutraPharma.com
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 licensing of Cobroxin should not be construed as an indication in any way whatsoever of the future value of the Company's common stock or its present or future financial condition. The Company's filings may be accessed at the SEC's Edgar system at 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.
Nutra Pharma Corp.
SOURCE Nutra Pharma Corporation