Innovus Pharma Signs Second License and Distribution Agreement With OVATION Pharmaceuticals (Acquired by Lundbeck in March 2009) for EjectDelay in Morocco
9/11/2013 9:23:20 AM
LA JOLLA, Calif., Sept. 11, 2013 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc., ("Innovus Pharma") www.innovuspharma.com (OTCBB:INNV) announced today it has entered into a second 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 premature ejaculation treatment, EjectDelay™, in Morocco. Ovation Pharma may pay Innovus Pharma up to approximately $18.6 million – allocated among a fixed upfront license fee and the achievement of regulatory and commercial milestones. In addition, Ovation Pharma has agreed to certain upfront minimum purchases of EjectDelay based upon an agreed upon transfer price and minimum yearly purchases.
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