Innovus Pharmaceuticals, Inc. ("Innovus Pharma" or the “Company”) (OTCQB Venture Market: INNV), an emerging commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter medicine and consumer care products to improve men’s and women's health and respiratory diseases, today announced the approval from Amazon® for the expansion of its Amazon® stores to five European countries namely the United Kingdom, France, Germany, Spain and Italy. The additional store will increase the Company’s European presence and help Innovus Pharma’s customers access its products in English, French, German, Spanish and Italian. The Company expects to launch its European stores in the third quarter of 2018.
The Company anticipates that Amazon® stores’ sales will track to a $3 million annual run-rate and to a $5 million annual run-rate for all of its e-commerce site sales by the end of the year.
“We are delighted with the approval of our European Amazon® stores covering the United Kingdom, France, Germany, Spain and Italy,” said Dr. Bassam Damaj, the President and Chief Executive Officer of Innovus Pharma. “This expansion of our Amazon® sales to Europe through Amazon’s FBA shipping is a major step to globalize our direct sales without the need to continuously depend on finding local partners. The European expansion of our Amazon® stores follows the successful launches of our stores in the United States, Canada and Mexico.”