In an interview with Stock-Sector at the American Academy of Ophthalmology meeting in Las Vegas, NovaBay’s Glenn Moro explains why sales of Avenova eyelid and eyelash cleanser reached a record $1.1 million in the third quarter—and continue to climb rapidly
NEW YORK, NY – November 16, 2015– Stock-Sector.com, an online source of news about promising medical, technology and energy companies, today released an interview with Glenn Moro, Vice President of Avenova® Sales and Marketing at NovaBay Pharmaceuticals (NYSE: NBY), an Emeryville, CA, a biopharmaceutical company commercializing and developing topical non-antibiotic antimicrobial products for the global eye care market.
Stock-Sector caught up with Moro at the American Academy of Ophthalmology meeting in Los Vegas, Nov. 14-17, where NovaBay is discussing the benefits—and the rapidly rising sales—of its innovative eyelid and eyelash cleanser, Avenova®.
As Moro said in the interview [VIDEO] “we just had our biggest quarter ever, with $1.1 million in sales.” Those third quarter numbers represented a 40% jump over second quarter sales. Moreover, fourth quarter sales are expected to rise at an even faster rate: Sales in the first month were 50% higher than those in the first month of the third quarter. “We are showing a nice trend—and we are very excited,” said Moro.
In the interview Moro explained that revenues come from both selling Avenova directly to doctors (who then bill their patients) and selling the eyelid cleanser through pharmacies after doctors write prescriptions. The prescription side of the business is growing the fastest. In January 2015, doctors were writing just a couple hundred prescriptions per month. “Now we’re up to 6500 a month,” Moro said. “We really excited about the prescription business. We believe it will be the majority of the business in the future.”
Avenova sales are climbing for two reasons, Moro said. One is that the product is unique. Avenova is the only eyelid cleanser to contain Neutrox, NovaBay’s proprietary pure hypochlorous acid (HOCl). While other products may include HOCl among their ingredients, they also contain substances like bleach, which is both less effective against microbes than Neutrox in lab tests and is toxic to cells. In vitro testing shows that Neutrox not only kills many strains of bacteria in seconds, it also neutralizes the toxins that the microbes produce, while being completely safe.
The second reason is that both patients and doctors have found that a regimen of daily lid hygiene using Avenova has been remarkably successful in managing often-painful eye conditions like blepharitis and meibomian gland dysfunction (or dry eye). Those conditions are caused by bacteria on the eyelids and affect an estimated 30 million Americans. Once doctors actually try Avenova, any skepticism they might have had about the product vanishes, said Moro. Many of their patients say that the product has brought the first relief they’ve had in years. Avenova, Moro said, “has had a profound impact on patients’ lives.”
That’s why NovaBay is working so hard to get the word out to more doctors about the benefits of Avenova—and why Moro expects that 2016 will bring “a significant increase in sales.”
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