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Wellnex Life commence manufacturing on Chemist Warehouse joint venture

August 4, 2021

Wellnex Life commence manufacturing on Chemist Warehouse joint venture

Wellnex Life has successfully commenced manufacturing Australia’s first paracetamol liquid soft gel as part of a joint venture with Chemist’s Warehouse.

Wellnex Life has successfully commenced manufacturing Australia’s first paracetamol liquid soft gel as part of a joint venture with Chemist’s Warehouse.

The new Wagner Liquigesic paracetamol capsules are the first in a series of four products slated for release through the joint venture and are expected to hit shelves in September this year.

Wellnex Life Chief Executive Officer, George Karafotias, described the manufacturing commencement as an important milestone in the business’ journey.

“This new brand and range of products is the basis for the Joint Venture with Chemist Warehouse under the Wagner Liquigesic brand,” he said. 

“The first four products are part of the launch phase of the arrangement, with further products currently under development.

Mr Karafotias said the Wagner Liquigesic range represents the company’s strategy of being first-to-market with innovative products designed to meet new and emerging customer needs, with “meaningful support” from major distributors like Chemist Warehouse.

The company’s ability to identify these new opportunities and have new products developed, branded, and distributed sets Wellnex Life apart from its competitors, he added.

The current manufacturing contract also includes a combination ibuprofen-paracetamol liquid soft gel product.

Initial orders for the range currently sit at roughly $1 million, including a contract manufacturing order.

Under the terms of the joint venture, Wellnex Life is for developing, registering and commercialising the products, and Chemist Warehouse is in charge of marketing and distributing them.

As manufacturing commences on the Wagner Liquigesic range, Wellnex Life is also in the process of finalising two other products into the Australian market.

These include two slow-release iron gummy products – both approved as complementary medicines – to be sold under ‘The Iron Company’ branding, and a number of energy products (gummies and effervescents) under the ‘Wakey Wakey’ brand name.

Join a live investor briefing with CEO George Karafotias, Thursday 12th August at 11am (AEST). Click here to book your spot.

 

Reach Corporate provide Corporate Advisory Services to WNX and have been engaged by them to manage their investor communications.

Sources:


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