CS MEDICA signs distributor agreement with Alsitan – order value 4,4 MDKK
CS MEDICA A/S (”CS MEDICA” or the ”Company”) announces today that the Company has signed a distributor agreement with Alsitan GmbH (“Alsitan”). The agreement regards the sales of CS MEDICA’s arthritis gel under a private label in the German and Austria territory. The order amounts to 140,000 units and corresponds to an order value of DKK 4,4 million in revenue.
Lone Henriksen comments
“Our previous white label order received from Alsitan, a total of 40,000 units of the Arthritis gel had a very successful market reception at the German market and is now sold out. Following the successful market launch we have now entered into a private label agreement with Alsitan, covering the German and Austria territory. The agreement, covering the Arthritis gel launched under the brand name “Alsiroyal”, is based on minimum orders, in year 1 and 2, of 40,000 units and in 2024 at 60,000 units. The agreement automatically continues beyond the 3 years, after which new minimum orders are to be set.”
Private label agreement
CS MEDICA has entered a distributor agreement with Alsitan (website - only in German), covering the territory of German and Austria. Alsitan is 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 140,000 units, corresponding to DKK 4,4 million in revenue, distributed over 3 years period;
2022: 40,000 units
2023: 40,000 units
2024: 60,000 units
CS MEDICA’s Arthritis Gel will be introduced to the market under the brand name “Alsiroyal”, sold by Alsitan. The first order of 40.000 units will be delivered in Q3 and Q4 in 2021/2022.
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.
This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10-05-2022 16:55 CET.
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.
The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.
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