Nutra Pharma Corp. (OTCBB: NPHC), a biotechnology company that is developing treatments for Adrenomyeloneuropathy (AMN), HIV and Multiple Sclerosis (MS), has announced today its intent to launch a prescription analgesic, Nyloxin Rx, for the treatment of severe (Stage 3) chronic pain.
Nyloxin Rx is a prescription pain reliever produced by Nutra Pharma’s wholly-owned drug discovery subsidiary, ReceptoPharm. Unlike Stage 2 pain, which interferes with both work and sleep, Nyloxin Rx is aimed at treating Stage 3 pain, which is the most severe pain that inhibits one’s ability to fully function. Additionally, Nyloxin Rx does not rely on the use of opioids for its pain relieving action, but, instead, uses a novel mechanism from cobra venom peptides for treating pain.
“For the past 10 years, we have allocated significant time and resources to the study of peptides from cobra venom for the treatment of several indications, including pain,” explained Dr. Paul Reid, CEO of ReceptoPharm. “Given the amount of clinical evidence using cobra venom as a pain reliever, the drug’s well-defined safety profile, and the active pharmaceutical ingredient, which is a monographed drug under United States Homeopathic Pharmacopoeia, we plan to go directly to market with Nyloxin Rx and begin introducing it to physicians later this year,” he added.
According to a report published by IMS Health, there were a total of 237 million U.S. opioid prescriptions in 2008 with over 85 million prescriptions specifically for the treatment of chronic pain. Additionally, a December 2008 article in the Journal Gazette reported that sales of Oxycodone (not including Percodan) totaled $2.89 billion and that sales of Fentanyl totaled $1.55 billion from January to October of the same year.
“We are excited to be launching Nyloxin Rx as a prescription pain reliever at a time when both physicians and patients are actively looking for alternatives to opioid-based pain therapies. We are confident that Nyloxin Rx will compete successfully with other prescription pain medicines and become the preferred treatment for severe chronic pain,” commented Rik J. Deitsch, Chairman and CEO of Nutra Pharma Corporation. “While we continue to focus on bringing Nyloxin Rx to market, we are also planning to use our financial and strategic resources to begin additional human clinical trials in the near-term for our other drug indications outside of pain,” he concluded.