Nutra Pharma Corporation (OTCQB: NPHC), the company behind innovative products such as Nyloxin® and Pet Pain-Away, is set to build on its rich history of pursuing over-the-counter sales as it continues to advance its therapeutic pipeline based on cobra toxin. In an interview with The Life Sciences Report released last October, Rik Deitsch, the company’s chief executive officer, discussed Nutra Pharma’s plan to promote sustainable growth through the development and distribution of its proven pain medications in a collection of global markets – including India, China, Canada and the United States.
“We started speaking with the FDA in 2009 about an ethical pain therapy that uses microgram doses of cobra venom extract as a neurotoxin, or neuro blocker, for pain and inflammation,” Deitsch recounted in the article. “The FDA told us our drug qualified as an OTC homeopathic medication because it is derived from a natural product and because the dosage is so small. That allowed us to create our first OTC drugs in 2009–2010.”
To date, Nutra Pharma has released seven unique stock keeping units (SKUs) of Nyloxin, which is an OTC pain treatment for humans, as well as one SKU of Pet Pain-Away for dogs and cats. Products under both of these brands leverage a non-addictive, non-narcotic formula and lack all of the negative side effects commonly associated with other OTC pain medications. Despite this stellar safety profile, Nyloxin has shown to be approximately 600 times more potent than morphine in clinical studies, offering pain relief for roughly four hours longer than the popular opioid medication.
In the Life Sciences Report article, Deitsch noted that Nutra Pharma is “at an inflection point.” Because it is able to generate significant revenues from OTC drug sales – with sales from these products expected to increase dramatically over the next 16 months, according to Deitsch – the company has effectively mitigated the risk to investors while continuing to push forward with clinical trials for a pipeline of potential blockbuster drugs addressing underserved indications such as multiple sclerosis (MS), human immunodeficiency virus (HIV), and select autoimmune and antiviral conditions. Deitsch predicts that Nutra Pharma will be cash-flow positive within the first half of 2016.
Nutra Pharma released a letter to shareholders in December providing an update on the information offered in the previously referenced article and reviewing the company’s progress toward achieving growth in 2015. Particularly worthy of note, the company was granted orphan status for drug candidate RPI-78M for the treatment of pediatric MS. With this designation in hand, Nutra Pharma will enjoy a collection of benefits over conventional drug applications – including tax credits for research costs, the option to apply for grant funding, clinical trial design assistance and the waiver of Prescription Drug User Fee Act (PDUFA) filing fees, which can be in excess of $2.5 million. In a news release earlier this month, the company announced that it will unveil additional steps related to the development of RPI-78M and other growth initiatives in the coming weeks.
For more information on the company, visit www.NutraPharma.com
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