MZS Sleeping Aid

nnovus Pharma’s Subsidiary, Novalere, Inc., Announces Launch of Its First Hemp-Derived Cannabidiol Oil-Based Product, MZS Sleeping Aid™ in the United States

PRESS RELEASE Businesswire
 Feb. 26, 2019, 06:09 AM

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 that its subsidiary, Novalere, Inc., has launched its product line into the hemp-derived, cannabinoid ("CBD”) oil-based products with the introduction of MZS Sleeping Aid™, a dietary supplement in tincture form delivering a 3 mg dose of melatonin per serving that incorporates either a 100 or 250 mg of hemp-derived CBD oil.

MZS Sleeping Aid™ has been launched in states in the U.S. where hemp-derived CBD products may be sold. In accordance with current regulations the Company will not sell this product in any states where it is illegal to do so. The product does not contain any Tetrahydrocannabinol ("THC”) and is designed to be compliant with applicable U.S. state and federal laws.

"We are excited to announce the launch of our MZS Sleeping Aid™ product,” said Dr. Bassam Damaj, the President and Chief Executive Officer of Innovus Pharma. "This product is a melatonin-based product that includes CBD oil intended to support individuals’ sleep. We are launching this product through our powerful and proprietary Beyond Human® Sales & Marketing Platform in those U.S. states into which such products are permitted by law. We are currently interested in developing additional future hemp-derived CBD oil-based ingredients into products and launching them and in providing our customers with a line of CBD alternative supplements to realize and achieve their personal healthcare goals.”

According to data published in the Hemp Business Journal, the CBD market is estimated to grow to approximately $2.1 billion in consumer sales by 2020, with $450 million of those sales coming from hemp-based sources, which is a 700% increase from 2016. Demand for hemp-based CBD products is also growing quickly, indicated by the above data, due in part to the variety of ways it can be used in products such as that in health supplements among others.

The strategy of the Company has been to enter the CBD market once there is credible and empirical published evidence to support concrete health benefits and by adding its formulation of melatonin trusted by our consumers for additional health benefits. These hemp-derived CBD oil products combined with the growing consumer demand for them, aligns with Innovus Pharma’s mission to provide people with solutions and products to lead healthy lives.