Consumer healthcare business Wellnex Life (ASX:WNX) has achieved another breakthrough with a new market authorisation (MA) approval for its liquid paracetamol plus caffeine soft gel.
The MA approval comes after Wellnex made a successful submission to Australia's Therapeutic Goods Administration (TGA) for the latest addition to its range of liquid soft gels.
The approval adds to the company's previous MAs for liquid paracetamol, liquid paracetamol plus ibuprofen and liquid mini-ibuprofen.
Managing director, Zack Bozinovski, said the approval will further drive additional revenue opportunities for Wellnex Life, with its existing MAs being utilised by domestic and international companies like Chemist Warehouse and Haleon.
“The approval of liquid paracetamol plus caffeine soft gel market authorisation is a great testament to the company and its internal capabilities. This unique product will provide opportunities not only to use in the company’s own brands but also opportunities to license it to third parties," Mr Bozinovski said.
"Wellnex Life’s four MAs for a range of liquid soft gels is a validation of the company’s philosophy of being either ‘first’ or ‘fast’ to market with innovative products for the consumer health market."
As it continues its global expansion, Wellnex Life recently delivered its TGA registered paracetamol soft gel liquid analgesic to Haleon and the UK market.
The global expansion into the UK market builds on the successful Australian market launch which commenced in FY23.
In March 2022, the company signed z supply agreement for its innovation soft gel liquid paracetamol to Haleon for it to be retailed in Australia and New Zealand under Haleon’s pain relief brand.
In the meantime, Wellnex Life continues to progress its proposed dual listing on the London Stock Exchange with clear advancement of work streams required to commence the marketing campaign in the UK.
Leading UK based broker SP Angel have been appointed as joint broker to the UK raise with Orana, who are being supported by Australian based Barclay Pearce Capital.
On the local front, Wellnex Life has more recently acquired leading Australian topical pain relief brand Pain Away. Its addition to Wellnex Life’s product offering both compliments and accelerates the potential growth of the company’s business operations.
“This transformational acquisition gives added impetus to Wellnex Life’s financial growth and scale and reinforces its place as a major and respected participant in the growing healthcare market, both in Australia and overseas,” Mr Bozinovski said.