- Health and wellness company Wellnex (WNX) launches its 100 per cent owned Pharmacy Own brand
- WNX has entered a supply agreement with CH2, Australia’s only pharmaceutical and medical consumable distributor to distribute products under the brand
- Under the agreement, Wellnex will be responsible for the development and marketing authorisations while CH2 will be responsible for product distribution
- The launch of 20 core products is targeted in the first 12 months with the first products to be available in H1 2022
- Wellnex ends the day in the grey with shares trading at 9.1 cents
Health and wellness company Wellnex (WNX) has launched its 100 per cent-owned Pharmacy Own brand.
Wellnex has entered a supply agreement with CH2, Australia’s only fully-integrated pharmaceutical and medical consumable distributor to distribute products under the brand.
It has a portfolio of over 50,000 products and operates across hospitals, pharmacies and aged care villages.
Under the agreement, Wellnex will be responsible for the development, TGA marketing authorisations and consumer marketing for products under the Pharmacy Own brand.
WNX’s Brand Solutions Australia national field sales team will be responsible for the sales and distribution in the pharmacy channel as well as the training of health care professionals.
CH2 will be responsible for product distribution through its national network of distribution centres.
The launch of 20 core products is targeted in the first 12 months with the first products to be available in H1 2022.
In the long term, Wellnex expects the Pharmacy Own brand will expand to over 50 products across the cough, cold, hay fever, pain relief and vitamin categories.
Wellnex CEO George Karafotias said the company was pleased to be partnering with CH2.
“We’re thrilled to be partnering with CH2 to make available our Pharmacy Own brand of products to over 2500 pharmacies all over Australia,” Mr Karafotias said.
“With CH2 having one of the largest distribution networks in the Australian healthcare industry, we are excited about the potential to leverage their market reach and position and increase revenue and profitability.”
Wellnex has ended the day in the grey with shares trading at 9.1 cents in a $27.60 million market cap.