05-16-2023
Washington, D.C., May 16 , 2023 – Modavar Pharmaceuticals announced today that it has launched Acyclovir Capsules. The launch of the 200mg strength of Acyclovir adds to the growing line of products in the Modavar portfolio. The product is available immediately and is AB-rated to Mylan’s Zovirax®. Total market sales for this product are approximately $2.8 million (IMS MAT 2/2023). Zovirax® is indicated for the treatment of Cold Sores (caused by Herpes Simplex, HSV-1), Shingles (caused by Herpes Zoster), Genital Herpes (HSV-2) and Chickenpox.
Zovirax® is an antiviral drug. However, it is not a cure for these infections. The viruses that cause these infections continue to live in the body even between outbreaks. Acyclovir decreases the severity and length of these outbreaks. It helps the sores heal faster, keeps new sores from forming, and decreases pain/itching. This medication may also help reduce how long pain remains after the sores heal. In addition, in people with a weakened immune system, acyclovir can decrease the risk of the virus spreading to other parts of the body and causing serious infections. About 70% of Americans ages 14 to 49 have herpes, that is either the HSV-1 or HSV-2 versions. Genital herpes alone contributed to $813.5MM in treatment and productivity losses in 2019.
Jaswinder (Manji) Matharu, Chairman, stated, “Modavar’s line of products continues to grow with the introduction of Acyclovir Capsules. We are pleased to be able to provide this product to our customers and patients.”
About Modavar Pharmaceuticals
Modavar Pharmaceuticals is an emerging vertically integrated specialty pharmaceutical company that develops, manufactures, and markets generic prescription pharmaceutical products. In collaboration with Cadila Pharmaceuticals Limited, Modavar has a strong pipeline of products, and plans to manufacture ANDA and 505(b)(2) products in its Frederick, Maryland plant as well.
For further information about Modavar Pharmaceuticals, please visit the Company’s corporate website at www.modavar.com.
Safe Harbor
The information in this release may contain various forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (“PSLRA”) and which may be based on or include assumptions concerning Modavar’s operations, future results, and prospects. Such statements may be identified using words like “plans”, “expect”, “aim”, “believe”, “projects”, “anticipate”, “commit”, “intend”, “estimate”, “will”, “should”, “could” and other expressions that indicate future events and trends.
All statements that address expectations or projections about the future, including without limitation, statements about the Company’s strategy for growth, product development, regulatory approvals, market position, acquisitions, revenues, expenditures, and other financial results, are forward-looking statements.
All forward-looking statements are based on current expectations and are subject to risk and uncertainties. In connection with the “safe harbor” provisions, Modavar provides the following cautionary statements identifying important economic, political and technology factors which, among others, could cause actual results or events to differ materially from those set forth or implied by the forward-looking statements and related assumptions.
Such factors include (but are not limited to) the following: (1) changes in the current and future business environment, including interest rates and capital and consumer spending; (2) the difficulty of predicting FDA approvals, including timing, and that any period of exclusivity may not be realized; (3) acceptance and demand for new pharmaceutical products; (4) the impact of competitive products and pricing, including as a result of so-called authorized-generic drugs; (5) new product development and launch, including the possibility that any product launch may be delayed or that product acceptance may be less than anticipated; (6) reliance on key strategic alliances; (7) the availability of raw materials; (8) the regulatory environment, including regulatory agency and judicial actions and changes in applicable law or regulations; (9) fluctuations in operating results; (10) the difficulty of predicting international regulatory approval, including timing; (11) the difficulty of predicting the pattern of inventory movements by the Company’s customers; (12) the impact of competitive response to the Company’s sales, marketing and strategic efforts; (13) risks that the Company may not ultimately prevail in litigation; and (14) the risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.
This discussion is by no means exhaustive but is designed to highlight important factors that may impact the Company’s outlook. We are under no obligation to update any of the forward-looking statements after the date of this report.