Wellnex Life has extended its supply agreement with consumer health player Haleon into the United Kingdom, Ireland and the United Arab Emirates (UAE).
Back in March 2022, the company signed the supply agreement for its innovation soft gel liquid paracetamol to Haleon (then GSK Consumer Healthcare) for it to be retailed in Australia and New Zealand under Haleon’s pain relief brand.
Haleon is a world-leading consumer healthcare company that owns brands including Panadol, Sensodyne, Voltaren, Polident, Centrum, Otrivin and Advil.
Now, Wellnex Life (ASX:WNX) is increasing the product offering and territories under the agreement and from FY24 will start suppling Haleon with:
- Liquid Paracetamol Soft Gel for the United Kingdom and Ireland (3 SKU’s);
- Liquid Paracetamol plus Caffeine Soft Gel for the United Kingdom and Ireland (3 SKU’s); and
- Liquid Paracetamol plus Ibuprofen Soft Gel for the United Kingdom and United Arab Emirates (2 SKU’s).
Accelerating global distribution
Wellnex says this extension highlights the scale benefits of its business model of developing innovative healthcare products and intellectual property (IP) and accelerating distribution via significant partnership arrangements.
“This builds on the existing arrangement of supplying our Liquid Paracetamol product for the Australian and New Zealand market which continues to deliver substantial sales for Wellnex,” MD Zack Bozinovski said.
“With the expansion into these new international territories and the introduction of two new innovative products we expect to see significant growth in revenue from this arrangement during FY24 and beyond.
“We’re pleased to be able to partner with global leaders such as Haleon who provide significant global distribution opportunities for our products.”
This article was developed in collaboration with Wellnex Life Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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