Pharmacolog enters into partnership agreement with Codonics Inc.
Pharmacolog has entered into a partnership agreement with Codonics Inc., USA for the sale and distribution of WasteLog® in the North American market. The agreement also includes extensive collaboration regarding marketing and service.
Pharmacolog AB and Codonics Inc. have entered into a long-term partnership agreement regarding sales and marketing of WasteLog® in the North American market. Codonics Inc. is an American company active in the area of medication management in anesthesia and surgery. Their main product is the Codonic Safe Label System (SLS), and today they have more than 9700 SLS units installed in a total of 700 hospitals in 17 different countries, the majority of which are in the USA. During the spring and summer, developers from Pharmacolog and Codonics worked together to integrate WasteLog® with SLS. A customer can now be offered an integrated solution for the entire handling of narcotic drugs. From the time the medicine is prepared until any remaining substance is checked and discarded. Codonics will operate as an exclusive distributor in parallel with Pharmacolog's own sales organization. The companies also intend to establish an extensive collaboration regarding marketing and service.
Mats Högberg, CEO of Pharmacolog, comments: “We have worked focused and purposefully to establish strategic partnerships with major international players and are very pleased to have entered into this partnership agreement with Codonics. WasteLog will be included as part of the company's own range and will thus be immediately exposed to the approximately 600 clinics in the USA that currently have Codonic's SLS system. The collaboration means that we properly accelerate our commercial activities in the North American market. This, combined with the fact that we have our own very experienced sales staff on the ground, makes me look forward to exciting growth in the USA.”
For more information contact:
Mats Högberg, CEO
Email: mats.hogberg@pharmacolog.com
Phone: +46 70-546 50 21
This information is insider information that Pharmacolog AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on December 4th, 2020 at 15:30.
About Pharmacolog AB
Pharmacolog is specialized in developing systems and solutions for more effective and safer use of intravenous drugs. The company's first product, DrugLog®, enables a nurse or pharmacist to quickly and easily verify that an injectable drug has the right identity and concentration. Pharmacolog's long-term vision is an individually optimized medication for each individual patient, considering all available parameters in the control and distribution of the drug. Further information regarding the company is available at www.pharmacolog.com. The company's Certified Adviser is Mangold Fondkommission AB, which can be reached on telephone number +46 8-5030 15 50 or through CA@mangold.se.
