"In mid-2013 we announced that we had received notification that our patent and trademarks for the Nyloxin® line of pain relievers had been published in India’s Official Journal, allowing for patent and brand protection in the country," stated Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation.
"Since that time, we’ve been working diligently with importers to arrange for all of the paperwork and regulatory documentation necessary for this initial shipment," he continued. "After this first shipment, our team will travel to Mumbai to meet with the Distributors and work out the details for mass distribution throughout India. That trip is expected to take place by mid-March," he concluded.
According to a 1998 study published in the Journal of the American Medical Association (JAMA), it was estimated that 19% of patients evaluated in India suffered from persistent pain. An additional 2007 report from the Journal of Pain and Symptom Management, documented that only 0.4% of India’s population in need of opioids for pain relief had access to them.
In a 2014 Euromonitor report, the analgesic market in India reached over $274 million annually but consisted mostly of low-cost, OTC therapies.
"I am very happy to work with Nutra Pharma to get Nyloxin into India," commented Mark Kumar, Director of ITG Exim, Nutra Pharma’s import agent for India.
"The market for Nyloxin is substantial for a variety of reasons," he continued. "The population of India is over 1.2 billion people with a growing middle class that is expected to reach over 250 million people in the next five years. Additionally, the Indian people will readily accept a pain therapy derived from cobra venom. And lastly, Indian doctors have the lowest prescription rate for opiate medications in the world. This leaves a wide open market for a strong pain-reliever like Nyloxin," he concluded.
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.