[January 30, 2018]

Innovus Pharma's Apeaz™ Drug for Arthritis Pain Relief Approved for Commercialization in Canada as a Natural Health Product

Innovus Pharmaceuticals, Inc. ("Innovus Pharma" or the "Company") (OTCQB Venture Market: INNV), an emerging commercial-stage pharmaceutical company that delivers safe, innovative and effective over-the-counter medicine and consumer care products to improve men's and women's health and respiratory diseases, today announced the approval of its Natural Health Product ("NHP") License in Canada for its Apeaz™ product. Apeaz™ is a drug in the U.S. for arthritis pain relief. Apeaz™ will either be sold by itself as an NHP in Canada or in the future, potentially sold with the Company's supplement, ArthriVarx™, a nutritional supplement designed to promote and maximize joint health, when that product is presented to Health Canada for approval.

"Apeaz™ ia an excellent complement to our fast growing portfolio of products available within the Canadian market," said Innovus CEO Dr. Bassam Damaj. "Apeaz™ is our seventh product on the Canadian market including Zestra®, Zestra Glide® and Uxor™ (EjectDelay™) marketed by Orimed Pharma, UriVarx® through our recently announced partnership with Acerus Pharmaceuticals Corporation and Vesele® and Xyralid® through our own marketing and sales efforts in that country. Apeaz™ is one of our core revenue-generating products in the U.S. and we are currently expected to launch the product in Canada by the end of 2018."

About Apeaz™

Apeaz™ arthritis cream is a fast acting, FDA monograph pain relieving drug and over-the-counter medication cream. Apeaz™ is not only formulated to soothe the pain in joints and muscles like other arthritis and sports creams, but it also contains ingredients such as methyl-sulfonyl methane (MSM) and glucosamine sulfate known to help damaged cartilage for stronger and more pressure resistant joints.¹ Apeaz™ is indicated to relieve the following: acute pain, arthritis pain, athletic injuries, muscle soreness, muscle stiffness, muscle and joint pain, simple backache and strains and sprains.

To the Company's knowledge, Apeaz™ is the only OTC monograph drug published and commercialized to reduce all signs and symptoms of arthritis in the collagen induced mouse model. In addition, our proprietary deep penetration formulation was shown to penetrate the joint tissues where the inflammation and joint damage take place (J Immunol April 1, 2009, 182 (1 Supplement) 50.20). Apeaz™ drug facts in the U.S. are available on DailyMed at https://dailymed.nlm.nih.gov/dailymed/drugInfo.cfm?setid=9f36e226-9e8b-4282-9699-84fc7ac499c4 and in Canada at https://health-products.canada.ca/lnhpd-bdpsnh/index-eng.jsp.

According to Markets & Markets (October 2016 Report Code: MD 4660), the market for the arthritis and other related joint pain is estimated to be at approximately $85 million in 2016 and projected to grow at a CAGR of 5.0% during 2017 to 2021. For more information on Apeaz™, please visit our website at www.apeaz.com.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer goods and specialty pharmaceutical company engaged in the commercialization, licensing and development of safe and effective non-prescription medicine and consumer care products to improve men's and women's health and vitality and respiratory diseases. Innovus Pharma delivers innovative and uniquely presented and packaged health solutions through its (a) OTC medicines and consumer and health products, which we market directly, (b) commercial partners to primary care physicians, urologists, gynecologists and therapists, and (c) directly to consumers through our on-line channels, retailers and wholesalers. The Company is dedicated to being a leader in developing and marketing new OTC and branded Abbreviated New Drug Application ("ANDA") products. The Company is actively pursuing opportunities where existing prescription drugs have recently, or are expected to, change from prescription (or Rx) to OTC.

For more information, go to www.innovuspharma.com; www.zestra.com; www.ejectdelay.com; www.myvesele.com; www.urivarx.com; www.sensumplus.com; www.myandroferti.com; www.beyondhumantestosterone.com; www.getbeyondhuman.com; www.trybeyondhuman.com; www.recalmax.com; www.prostagorx.com; www.fluticare.com; www.allervarx.com; and www.apeaz.com.

Innovus Pharma's Forward-Looking Safe Harbor:

Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, projected revenues from the Apeaz™ drug in Canada if approved in that country, estimated market for its products, and statements about achieving its other development, growth, commercialization, financial and staffing objectives. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent filing on Form S-1, annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC (News - Alert). Copies of these reports are available from the SEC's website or without charge from the Company.

¹ "MSM and Glucosamine help cartilage," https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3150191/.

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