Wellnex Life will gain immediate national distribution for its Pharmacy Own products through a joint venture with Australia’s leading distributor of pharmaceutical products.

Global facing wellness brand and product manufacturer Wellnex Life (ASX:WNX) has announced delivery of the first Pharmacy Own products to Clifford Hallam Healthcare (CH2).

The Pharmacy Own brand is wholly owned by WNX and is expected to deliver significant sales and enhanced margins to the wider group.

WNX continues to expand its portfolio of innovative health and wellness products to meet growing consumer demand.

In a joint venture with WNX, CH2 will be the exclusive distributor of Pharmacy Own products through their distribution network.

CH2 is Australia’s leading integrated distributor of pharmaceutical, medical consumable nutritional and equipment servicing the healthcare market.

The company has a portfolio of more than 50,000 products from over 700 recognised suppliers and services the entire healthcare market across hospital, pharmacy, primary, aged and community care and contract logistics.  CH2’s extensive network includes more than 2,500 pharmacies.

The joint venture with CH2 will enable WNX to gain immediate national distribution across CH2’s extensive network.

Range of competitively priced products

WNX will retain 100% ownership of the Pharmacy Own brand, which consists of a range of high-quality, affordable over-the-counter (OTC) medicines, providing consumers equivalent efficacious products to major brands currently found in the Australian market.

WNX said both consumers and pharmacies will benefit from competitive retail prices of the products.

The company aims to launch up to 20 core Pharmacy Own products in the first 12 months, expanding to over 50 products in the long term, across categories including cough and cold, hay fever, pain relief and vitamins.

Growing demand for affordable OTC medicines

WNX CEO George Karafotias said the company is excited to bring to market another innovative brand in Pharmacy Own that will meet the growing demand for affordable over-the-counter medicines.

“Partnering up with CH2 on this launch will see Pharmacy Own products distributed across a large and established distribution network that will maximise sales for Wellnex whilst also keeping costs down for consumers,” he said.

WNX recently announced cash receipts for the December 2022 quarter increased 61% to $7.6m.

The company also posted a 54% increase in revenue for the half year to a record $13.2m due to growth in its owned brands and contract manufacturing.

This article was developed in collaboration with Wellnex Life, 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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