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NEWS
Proprietary Technology Addressing the Rx-to-OTC Switch Self-Care Market Valued at over $38 Billion annually
Tuesday, 17th December at 9:00 am
Working to identify quantum computing partnerships to strengthen our AI technology to include critical health records to better enable Rx to OTC switch candidates across multiple indications
NEW YORK, NY / ACCESSWIRE / December 17, 2024 / Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) ("Petros" or the "Company"), a company focused on expanding consumer access to medication through over the counter ("OTC") drug development programs, today announces a shift in its corporate strategy to focus on the development of its proprietary technology platform as a prospective Rx-to-OTC switch solution across a multitude of conditions and existing Rx only therapies. If this Software as a Service ("SaaS") and Software as a Medical Device (SaMD) concept is ultimately approved by the FDA, it could significantly serve the emerging self-care market currently estimated to be valued over $38 billion with an expected compounded annual growth rate of 5.6% over the next 10 years.
Fady Boctor, Petros' President and Chief Commercial Officer, commented, "During the past few years, as we focused on bringing STENDRA from Rx-to-OTC, we developed a methodology using our technology platform that we believe would facilitate the execution of an Rx-to-OTC switch for a wide variety of prospective drugs. We think that the development of this technology, considering recent FDA and HHS policies, along with advancements in artificial intelligence and quantum computing, presents a more lucrative and lasting commercial opportunity for Petros' value potential."
Tuesday, 17th December at 9:00 am
Working to identify quantum computing partnerships to strengthen our AI technology to include critical health records to better enable Rx to OTC switch candidates across multiple indications
NEW YORK, NY / ACCESSWIRE / December 17, 2024 / Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) ("Petros" or the "Company"), a company focused on expanding consumer access to medication through over the counter ("OTC") drug development programs, today announces a shift in its corporate strategy to focus on the development of its proprietary technology platform as a prospective Rx-to-OTC switch solution across a multitude of conditions and existing Rx only therapies. If this Software as a Service ("SaaS") and Software as a Medical Device (SaMD) concept is ultimately approved by the FDA, it could significantly serve the emerging self-care market currently estimated to be valued over $38 billion with an expected compounded annual growth rate of 5.6% over the next 10 years.
Fady Boctor, Petros' President and Chief Commercial Officer, commented, "During the past few years, as we focused on bringing STENDRA from Rx-to-OTC, we developed a methodology using our technology platform that we believe would facilitate the execution of an Rx-to-OTC switch for a wide variety of prospective drugs. We think that the development of this technology, considering recent FDA and HHS policies, along with advancements in artificial intelligence and quantum computing, presents a more lucrative and lasting commercial opportunity for Petros' value potential."
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tian liang : This company really knows how to brag.
Lnova tian liang : throw in quantum computing lol
tian liang Lnova : 量子男性