Nutriband Inc. Initiates Plans to Offer Topical Lotion Contract Manufacturing Services

Rhea-AI Summary

Nutriband Inc. (NASDAQ:NTRB, NTRBW) has announced plans to offer contract manufacturing services for liquid-based topical products, following its recent cGMP certification. This certification relates to Pharmaceutical OTC GMP, 21 CFR Part 211/210, enhancing the company's manufacturing capabilities. CEO Gareth Sheridan stated that expanding these capabilities aligns with the company's revenue growth strategy for 2022. Nutriband is primarily focused on developing transdermal pharmaceutical products, including its abuse deterrent fentanyl patch utilizing AVERSA technology.

Positive

• Recent cGMP certification enhances manufacturing capabilities.
• Expansion into liquid-based topical products aligns with revenue growth strategy.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / December 21, 2021 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a company engaged in the development of pharmaceutical products, contract research and development services, and the manufacture of transdermal products, today announced plans to start offering contract manufacturing services for liquid based topical, transdermal and cosmetic product's. This follows the recent certification as a cGMP facility following a full cGMP audit. The audit was conducted specifically in relation to the certification of Pharmaceutical OTC GMP, 21 CFR Part 211/210.

"Our goal is to continue to expand our contract manufacturing capabilities to enhance the Company's revenue opportunities," said Gareth Sheridan, CEO. "Adding liquid based options such as lotions and cosmetics to our contract capabilities is core to this goal and in line with opportunities and relationships we have developed heading into 2022."

About Nutriband Inc.

We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse deterrent fentanyl patch incorporating our AVERSA^™ abuse deterrence technology. AVERSA™ technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.

The Company's website is www.nutriband.com. Any material contained in or derived from the Company's websites or any other website is not part of this press release.

Forward-Looking Statements

Certain statements contained in this press release, including, without limitation, statements containing the words ‘'believes,'' "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Form 10-K for the year ended January 31, 2020 and Forms 10-Q, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.

For more information, contact:

Investor Relations
RedChip Companies
Dave Gentry
Dave@redchip.com
1-800-RED-CHIP (733-2447)
407-491-4498

SOURCE: Nutriband Inc

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FAQ

What is Nutriband Inc.'s recent announcement regarding contract manufacturing?

Nutriband announced plans to offer contract manufacturing services for liquid-based topical, transdermal, and cosmetic products after receiving cGMP certification.

What does cGMP certification mean for Nutriband Inc.?

cGMP certification indicates that Nutriband's manufacturing facility meets the regulatory standards for producing pharmaceuticals, enhancing its credibility and operational capabilities.

How will the new manufacturing capabilities affect Nutriband's revenue?

The new contract manufacturing services are expected to enhance Nutriband's revenue opportunities as the company expands its product offerings.

What is Nutriband's focus with its product development?

Nutriband focuses on developing transdermal pharmaceutical products, including its lead product, an abuse deterrent fentanyl patch incorporating AVERSA technology.

When did Nutriband receive its cGMP certification?

Nutriband received its cGMP certification prior to its announcement on December 21, 2021.