Skinvisible Licensee Launches First Prescription Product in the USA
Womens Choice Pharmaceuticals Introduces ProCort® Hemorrhoid Treatment
LAS VEGAS, Nevada. July 18, 2011 - Skinvisible Pharmaceuticals, Inc. (SKVI:OTCBB & OTCQB) is pleased to announce that its licensee, Women's Choice Pharmaceuticals LLC, a specialty pharmaceutical company based in Gilbert, Arizona, has launched ProCort®, Skinvisible's first prescription product in the United States. ProCort® is a topical treatment for hemorrhoids formulated with Skinvisible's patented polymer delivery system Invisicare®. Invisicare enhances the delivery of active ingredients by controlling the release and provides superior binding properties. ProCort® is made of a combination of hydrocortisone acetate and pramoxine hydrochloride. ProCort®, launched this week, is a prescription product focused on the women's health market.
Womens Choice Pharmaceuticals has been granted the exclusive rights to commercialize Skinvisible's product within the United States. Skinvisible has received a development fee and now will receive a license fee paid in milestones plus on-going royalties based on product sales. Womens Choice Pharmaceuticals' revenue forecast for ProCort is $20 million by its third year.
According to the US Department of Health, hemorrhoids are most common among adults over 45 and in pregnant women. They state that approximately 75 percent of people will have hemorrhoids at some point in their lives. The US hemorrhoid market, estimated at $85 million in 2006, is growing by approximately 1 million new cases diagnosed every year.
"ProCort® is Skinvisible's first prescription product launched in the United States and we are very confident Womens Choice Pharmaceuticals will gain market share quickly, as it has with its other product launches," said Mr. Terry Howlett, President and CEO. "This is an example of how Skinvisible's Invisicare technology can meet the growing need for patent-protected options for pharmaceutical companies in dermatology and other markets."
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 targets more than 30,000 OB/GYNS and selected other medical specialties. Their managed markets division will target PBM's, HMO, GPO, CMS and other managed care organizations ensuring their products are covered under drug benefit plans. (www.wcpharma.com)