Nutra Pharma has selected Pentanet CA to serve as the exclusive distributor in Venezuela for its Nyloxin-branded pain relievers.
Coral Springs, FL. – April 27, 2011 - Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain announced today that it has selected Pentanet CA to serve as the exclusive distributor in Venezuela for its Nyloxin-branded pain relievers.
“We are excited to be working with Pentanet to introduce Nyloxin into the Venezuelan healthcare market,” explained Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation. “As one of the leading pharmaceutical distributors in Venezuela, Pentanet brings the expertise and ability to support the growth of new healthcare products such as Nyloxin throughout Venezuela,” he added.
Penta Corporation (and its subsidiary, Pentanet, C.A.) is a leading provider of health care products, medical and dental instruments as well as surgical equipment for the Venezuelan market. Penta Corporation, located in Caracas, has been widely recognized for its excellent customer service and their successful participation in relevant projects with the Venezuelan government since 2006. According to Datamonitor, the analgesics market in Venezuela was valued at over $331 million in 2009. By the end of 2014, this market is estimated to be worth over $416 million.
Nyloxin™ is an over-the-counter (OTC) pain reliever clinically proven to treat moderate to severe (Stage 2) chronic pain. Nyloxin™ is currently available in the United States as an oral spray for treating back pain, neck aches, headaches, joint pain, migraines, and neuralgia, and as a topical gel for treating joint pain, neck pain, arthritis pain, and pain from repetitive stress. In addition to its everyday strength formulation, Nyloxin™ is also offered in an extra strength formula for more advanced, Stage 3, chronic pain.
Previously, Nutra Pharma announced agreements with distributors in Mexico and Colombia. The drug registration process for both Cobroxin® and Nyloxin™ are currently being pursued in more than 20 countries.
About Nutra Pharma Corp.
Nutra Pharma Corporation operates as a biotechnology company specializing in the acquisition, licensing, and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune, and infectious diseases, including Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain. Additionally, the Company markets several drug products for sale for the treatment of pain under the brands Cobroxin® and Nyloxin™. For additional information about Nutra Pharma, visit: http://www.NutraPharma.com
This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Venezuela distribution of Nyloxin™ through Pentanet should not be construed as an indication in any way whatsoever of the future value of the Company’s common stock or its financial value. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.