Muscle and Repair Treatments versus Surgery: Europe and Global Markets offer Big Opportunities
Point Roberts, WA and Delta, BC - June 11, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering biotechnology and pharmaceutical stocks releases a sector snapshot reporting on the ongoing growth of OTC pain medication due to consumer demand and a move away from traditional surgeries. More companies are taking a global approach and are seeking to gain approval not only in the US, but also European markets moving forward.
According to a market research report published by P&S Intelligence, the chronic pain treatment market is "expected to reach $105.9 billion by 2024. The market growth is primarily driven by the rising prevalence of chronic conditions, surging geriatric population, and increasing government support toward chronic pain management."
MotleyFool recently discussed the key differences between the United States and European drug markets, specifically focusing on the key differences in drug approval. "The United States and Europe are drugmakers' biggest markets, but just because a drug wins approval in one doesn't mean it will get the nod in the other. Each market has its own system for clinical trials and drug reviews, and there are key differences in commercializing drugs in these regions that investors ought to know about before investing."
Looking to European markets, Innovus Pharmaceuticals, Inc. (OTCQB: 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, recently announced that it has received the CPNP notification number required to commercialize CarvaNum®, its product for muscle recovery, in all 28 member countries of the European Union. This represents the fifth Innovus Pharma product to receive CPNP notification in the European Union so far, the others being Zestra®, Zestra Glide®, Sensum+®, and Diabasens®. The product will be available as an over the counter ("OTC") or behind the counter product and does not require a prescription.
"We are pleased to announce the receipt of the CPNP in the European Union for CarvaNum®. CarvaNum®'s market for muscle recovery is fairly large in the EU and we look forward to growing it along with our other products in that region," said Innovus Pharma CEO, Dr. Bassam Damaj.
"We will continue to file for approval for other products in the European Union, as we expect to grow our approved and/or notified product portfolio there in 2019 to also include Vesele®, UriVarx®, Prostagorx®, ArthriVarx®, Trexar® and BH Testosterone®."
Innovus is also working on filing for CarvaNum® as a homeopathic drug for muscle cramps in the US and Canada.
The company published results on the first four patients to complete the clinical trial using CelGro™, with patients experiencing an 83% improvement in muscle power.
Orthocell said it conducted the trial to demonstrate the effectiveness of CelGro™ and confirm that the platform can be used to guide and promote "tensionless nerve regeneration in damaged peripheral nerves of the hand and upper limb."
If successfully proven, Orthocell plans to market its CelGro™ platform in Europe and other major markets globally. In the US alone, over 20 million people suffer from peripheral nerve injury as a result of acute muscle injuries every year, at an annual cost of approximately US$150 billion (A$213 billion).
Pacira BioSciences, Inc. (NASDAQ: PCRX) recently announced the publication of its multinational Phase 3 study supporting the efficacy and safety of EXPAREL® (bupivacaine liposome injectable suspension) as a single-injection interscalene brachial plexus nerve block (ISNB) in patients undergoing total shoulder arthroplasty or rotator cuff repair. The results demonstrate that EXPAREL® significantly improved pain control and reduced opioid consumption through 48 hours compared with placebo and a standardized pain management protocol alone. The data, which provided the basis for FDA approval for this indication, was published in Pain Medicine.
"Traditionally, clinicians seeking regional pain control have been forced to choose between single-injection blocks with a duration of efficacy that does not match analgesic requirements or continuous blocks that are long-lasting but hinder patient mobility due to cumbersome catheters and pumps. Results from this study illustrate the clinical effectiveness of interscalene brachial plexus nerve block with EXPAREL®, which provides prolonged pain control in a single dose without the need for additional equipment," said Manish Patel, orthopedic surgeon at Eastern Virginia Medical School in Franklin, VA who was also a study investigator and is lead author on the publication. "Further, robust pain control coupled with a reduction or total elimination of opioid requirements, as EXPAREL® demonstrated in this study, are two critical factors toward the increasing clinical goal of moving inpatient procedures to an outpatient setting."
This uptrend in pain management treatment is also attracting outside interest from the Cannabis sector as Harvest One Cannabis Inc (TSXV:HVT) (OTCQX:HRVOF) recently announced that it has entered into a definitive agreement to acquire Delivra Corp. for C$19 million, in a stock deal to strengthen its medical and wellness division.
Harvest One's acquisition of Delivra furthers the company's health, wellness, and self-care strategy by adding LivRelief™ to its medical and wellness portfolio. Delivra's LivRelief™ brand produces a variety of topicals and creams with existing distribution channels across Canada. This will well position Harvest One for the time when cannabis-infused products are legalized in Canada, around Fall of 2019.
"The acquisition of Delivra by Harvest One puts further emphasis on the Harvest One goal of being a leading house of brands in the global health, wellness, and self-care sector," said Harvest One CEO, Grant Froese. "The addition of LivRelief™, which is already on retail shelves across Canada, will give Harvest One a head start for cannabis-infused products in Canada."
Though many tend to look at the US as the largest market in dollar terms, the European market is still significant with more than 741 million people living there, a fact many of these OTC pain medication companies are taking into consideration when looking to maximize exposure and company revenues moving forward. OTC pain medication is showing impressive gains, but this is a global market moving forward and the companies who gain approval in both markets are hoping to gain a competitive advantage.
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