Novabay Pharmaceuticals Inc. (NYSEAMERICAN:NBY) Enters Agreement For Distribution Of Avenova In Australia

Novabay Pharmaceuticals Inc. (NYSEAMERICAN:NBY) has entered an exclusive agreement with Paragon Care Group Australia Pty Ltd for the distribution of Avenova in Australia. According to the agreement’s terms, Paragon Care Group will commence Avenova distribution directly to consumers under the Designs for Vision brand from early 2021.

Avenova expanding reach in Australia

Justin Hall, NovaBay’s CEO, said that they are pleased to expand Avenova’s geographical reach with the agreement to cover Australia. Hall said that they have a reputable and ideal partner for sourcing high-quality products under the Designs for Vision brand. Designs for Vision has an established market presence in Australia with over 40 years’ experience serving the optometry and ophthalmology sectors.

Designs for Vision General Manager Nikolas Apostolou said that Avenova fits well in their eye care products portfolio. He said that it is the only commercially accessible hypochlorous acid lash spray recognized to address underlying bacterial dry eye cause effectively. Nikolas said that Avenova is safe, soothing, and effective for long-term use. As a result, avenova is better suited for treating chronic bacterial infection affecting around 85% of all dry eye sufferers. He added that Designs for Vision is delighted to avail the products to Australians suffering from dry eye disease.

The Australian Government Department of Health has previously approved Avenova in the country. Avenova received the Australian Register of Therapeutic Good Certificate, making it available for distribution in the country.

Avenova posted record sales in Q3 2020

Avenova sales have been increasing, and in Q3 2020, the company reported record unit sales. During the third quarter, the company realized product revenue of $2.2 million, which is a 34% increase from the same period a year ago. Avenova sales reached a higher level since the company unveiled the direct-to-consumer sales channel. Interestingly online avenova direct sales continued to be the fastest-growing channel driven by the company’s successful digital marketing programs that feature enhanced customer outreach and lifestyle messaging. With the reopening of doctor’s offices, sales from the buy and sell channel also increased.