Nutra Pharma has announced that they have completed upgrades and an expansion to the reptile farm that houses the Asian cobras utilized in the production of the Company's OTC pain drug, Nyloxin®
June 23, 2015 -- Coral Springs, Florida -- Nutra Pharma Corporation (OTC: NPHC), a biotechnology company marketing Nyloxin® and Pet Pain-Away in the over-the-counter (OTC) pain management market, and which is also developing treatments for Multiple Sclerosis (MS), Human Immunodeficiency Virus (HIV), Adrenomyeloneuropathy (AMN) and Pain, announced today that they have completed a series of projects to update and expand the facilities that house the Asian cobras utilized for the production of Nyloxin®. They have also announced the addition of 100 snakes to the existing milking line to increase venom production for the upcoming international orders from India and China.
“We are at an amazing inflection point for the Company," commented Rik J. Deitsch, Chairman and CEO of Nutra Pharma Corporation. “Over the past few months, we have dramatically reduced costs, paid down debt and recapitalized the share structure of the Company,” he continued. "Now we need to focus on increasing sales for our OTC products, Nyloxin and Pet Pain-Away. This also requires us to scale up our raw material supplies and production facilities. The growth-limiting material for Nutra Pharma is cobra venom, the active ingredient in our OTC products. We need to make sure that we have an adequate supply of validated material to meet our future production needs. With the recently announced expansion into India and China, we realize that we will need to grow exponentially to meet these expected product orders in the coming months. The expansion of the reptile facilities ensures that we can grow apace with the increasing orders," he concluded.
For a timeline on the history of the use of cobra venom in medicine, see:
Nyloxin® is an over-the-counter (OTC) pain reliever clinically proven to treat moderate to severe (Stage 2) chronic pain. Nyloxin® is currently available 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.
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 drug products for sale for the treatment of pain under the brand Nyloxin® and Pet Pain-Away. For additional information about Nutra Pharma, visit:
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 expansion of the Company's reptile facilities 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.