CS MEDICA signs agreement on arthritis gel with Alsitan in Germany
CS MEDICA A/S’s (”CS MEDICA” or the ”Company”) announces today that the Company has signed an agreement with Alsitan GmbH (“Alsitan”) in Germany, in line with previously communicated confirmed orders. The order, which concerns arthritis gel under a private label agreement, amounts to 40,000 units, corresponding to DKK 1.240.000 million in revenue. The order is expected to be delivered in September and December 2021.
Lone Henriksen comments
“As this is our first order by a private label customer, we are very excited. This agreement signifies the potential for further advances in the private label field and further follows our communicated financial expectations for our business.”
Private label agreement
CS MEDICA has entered an agreement with Alsitan (website - only in German), a German private label company focused on developing natural medicines and food/nutritional supplements to maintain physical and emotional health. Alsitan was founded in 1949 and is headquartered in Greifenberg, Germany.
The order, which concerns arthritis gel under a private label agreement, amounts to 40,000 units, corresponding to DKK 1.240.000 in revenue. The Company’s product Arthritis Gel will be introduced to the German market under the brand name “Alsiroyal”, sold by Alsitan. The order will be delivered in September and December 2021. The agreement is in line with and a part of previously communicated confirmed and incoming orders (of a total of approx. DKK 3 million), as stated in the Company’s prospectus which was published in August in connection with an issue of units.
About Arthritis Gel
The Arthritis Gel is a patent-pending, Medical Device classified, a topical treatment for body areas affected by arthritis. It relieves the painful conditions of hot and swollen joints. The gel has a proven efficacy via a preclinical study and an ongoing clinical trial.
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@galaxapharma.com
Website: https://www.cs-medica.com/
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
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