Second U.S. Patent Issued for Safety Shot's JW-700 Which Boosts Effectiveness Of Minoxidil In $1.5B Hair Growth Market
Portfolio Pulse from Benzinga Newsdesk
Safety Shot has been issued a second U.S. patent for its product JW-700, which enhances the effectiveness of Minoxidil in the hair growth market. The product, which has exceeded sales expectations in India, is set to be introduced in 30 other countries through a partnership with Cosmofix & San Pellegrino. The company has also added Dr. Ready's, a company with annual revenues of $2.99B, to its licensee list. Clinical trial results demonstrating the product's efficacy in hair growth are expected in Q4 2023.
October 25, 2023 | 12:19 pm
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Safety Shot's JW-700 has received a second U.S. patent, which could boost the company's position in the hair growth market. The product's successful sales in India and upcoming introduction in 30 other countries could positively impact the company's revenues.
The issuance of a second U.S. patent for JW-700 strengthens Safety Shot's intellectual property portfolio and could potentially increase its market share in the hair growth industry. The product's successful sales in India and its upcoming launch in 30 other countries through a partnership with Cosmofix & San Pellegrino could lead to increased revenues for the company. The addition of Dr. Ready's to the licensee list also indicates potential for further revenue growth.
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