Skinvisible, Inc. Licensee Increases US Sales for Women's Health Product Made With Invisicare
Published: Apr 12, 2012
LAS VEGAS, NV--(Marketwire - April 12, 2012) - Skinvisible Pharmaceuticals, Inc. (OTCQB: SKVI) (OTCBB: SKVI) is pleased to announce that its licensee, Women's Choice Pharmaceuticals LLC, a specialty pharmaceutical company based in Gilbert, Arizona, has partnered with Advanced Medical Enterprises, LLC (AME Inc.) to market ProCort® in Puerto Rico. ProCort® is a topical prescription treatment for hemorrhoids formulated with Skinvisible's patented polymer delivery system Invisicare® and a combination of hydrocortisone acetate and pramoxine hydrochloride.
In July 2011, Women's Choice Pharmaceuticals was granted the exclusive rights to commercialize Skinvisible's product within the United States. Women's Choice Pharmaceuticals' new partnership with AME Inc. will increase the sales efforts for ProCort effective immediately. AME Inc. specializes in the face-to-face marketing and promotion of prescription drugs, dietary supplements and over the counter products specifically designed to address women health issues and conditions. Skinvisible will continue to receive on-going royalties based on all product sales.
"With over 3.7 million people living in Puerto Rico, this expanded coverage is a great opportunity for an increase in ProCort® sales and Skinvisible royalties," said Mr. Terry Howlett, President and CEO. "Sales of ProCort® continues to increase each quarter since its launch in July of last year. With a million new cases of hemorrhoids diagnosed each year along with other potential partnerships in discussion, Women's Choice expects their sales to continue to escalate."
Women's Choice Pharmaceuticals is an innovative specialty pharmaceutical company whose primary focus is to provide high quality prescription products to healthcare providers in the United States. Their nationwide sales team targets more than 30,000 OB/GYNs and selected other medical specialties. Their managed markets division will target PBMs, HMO, GPO, CMS and other managed care organizations ensuring their products are covered under drug benefit plans. (www.wcpharma.com)
About Skinvisible Pharmaceuticals, Inc.
Skinvisible Pharmaceuticals is a research-and-development company that licenses its proprietary formulations made with Invisicare, its patented polymer delivery system that offers life-cycle management and unique enhancements for topically delivered products. Invisicare holds active ingredients on the skin for extended periods of time resisting both wash off and perspiration along with controlling the release of actives and reducing irritation. Skinvisible receives a combination of research and development fees, upfront license fees, and ongoing royalties for the life of the Invisicare patent. Skinvisible's value also lies in its ability to continually generate new IP on topical products formulated with Invisicare. www.skinvisible.com and www.invisicare.com.
Forward-Looking Statements: This press release contains 'forward looking' statements within the meaning of Section 21A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. Such statements involve certain risks and uncertainties associated with an emerging company. Actual results could differ materially from those projected in the forward looking statements as a result of risk factors discussed in Skinvisible, Inc. reports on file with the U.S. Securities and Exchange Commission (including, but not limited to, a report on Form 10K for the quarter ending October 31, 2011).
Skinvisible Pharmaceuticals, Inc.