NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical company focusing on the development and commercialization of its non-antibiotic anti-infective products, today announced that it has signed a nationwide distribution agreement with Cardinal Health (NYSE: CAH), which delivers prescription drugs and many other products to retail pharmacies, hospitals, mail-order facilities, physician offices, surgery centers and other facilities across the U.S.
Under the agreement, Cardinal Health will carry and distribute NovaBay’s Avenova™, a prescription lid and lash hygiene product for the lid hygiene management of debilitating eye conditions such as blepharitis, Meibomian gland dysfunction and associated dry eye, to independent and retail chain pharmacies. The agreement is effective immediately and NovaBay is working with Cardinal Health to ensure sufficient product stocking to meet Avenova demand.
Combined with NovaBay’s previous distribution agreements with McKesson Corporation (NYSE: MCK) and Vision Source, Avenova will now be available to more than 90 percent of the nation’s 67,000 retail pharmacies and to thousands of optometrists’ offices across the country.
“We are pleased to expand our distribution network for Avenova with Cardinal Health,” said Dr. Ron Najafi, Chairman and CEO of NovaBay. “Patients who may benefit from Avenova can now be assured of its availability at nearly every retail pharmacy in America. This is a major achievement in our commercialization strategy.”
“We are currently launching a major marketing effort for Avenova with a dedicated field force of medical representatives who will be calling on optometrists and ophthalmologists,” said Glenn Moro, Vice President of Sales and Marketing for NovaBay. “By early February, we will have 35 representatives in the field educating eye care professionals about the benefits of the product.”
“The initial reception to Avenova by doctors and patients has been very positive and led to our decision to expand our field force,” added Dr. Najafi. “Our agreement with Cardinal Health will make our sales team even more effective by making Avenova available to virtually every patient and support our commercialization efforts for this product. We began promoting Avenova with only a limited number of medical representatives late last year. We are still early in the launch and expect to report modest but growing initial revenues for Avenova until mid to late 2015 when the full productivity of our expanded sales organization will begin to become evident.
“Avenova is an excellent addition to any lid hygiene regimen to manage the effects on the lids and lashes of the chronic and often-painful eye conditions of blepharitis and Meibomian gland dysfunction suffered by an estimated 40 million Americans,” said Dr. Najafi. “Patients who have had blepharitis for years—along with their doctors—report that Avenova has finally brought relief. Eye doctors are also using Avenova in the management of dry eye syndrome as well as a routine preparation for cataract and other eye surgeries as part of their lid hygiene regimen. Neutrox does not have the risks of bacterial resistance or side effects that are associated with traditional antibiotics or steroids.”
NovaBay’s Avenova is the only eye care product to contain Neutrox™, NovaBay’s proprietary pure hypochlorous acid (HOCl). Labs tests show that Neutrox, which emulates the naturally occurring substance released by white blood cells to fight microbial invaders, has potent antimicrobial activity in solution, and yet is non-toxic to healthy mammalian cells. It also neutralizes bacterial toxins in solution. NovaBay’s Neutrox-containing product has been cleared by the Food & Drug Administration via the 510(k) process as a prescription medical device for cleansing and removal of debris and microorganisms from wounds and skin.
About NovaBay Pharmaceuticals, Inc.: Going Beyond Antibiotics®
NovaBay Pharmaceuticals is a biopharmaceutical company focusing on the development and commercialization of its non-antibiotic anti-infective products to address the unmet therapeutic needs of the global, topical anti-infective market with its two distinct product categories: FDA-cleared NEUTROX™ Family of Products: AVENOVA™ for the eye care market, NEUTROPHASE® for wound care and CELLERX™ for the dermatology market; and its AGANOCIDE® compounds, led by AURICLOSENE™. NovaBay is partnered in the U.S. and around the globe with: PBE, Inc. (U.S.), IHT, Inc. (U.S.), Galderma (France), Virbac (France), China Pioneer Pharma (China and Southeast Asia), Shin Poong Pharmaceuticals (Korea), Biopharm Group (North African and Middle East).
This news release contains “forward-looking statements.” These statements are based on management’s current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, commercial potential, and financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Other risks relating to the company and its products, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, especially under the heading “Risk Factors.” NovaBay undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Stay informed on NovaBay’s progress:
Download our Mobile InvestorApp from the Apple Store or Google Play
Like us on Facebook
Follow us on Twitter
Connect with NovaBay on LinkedIn
Join us on Google+
Visit NovaBay’s Website
At the Company:
Thomas J. Paulson
Chief Financial Officer
Contact T. Paulson