NuGen Medical Reports Distribution Business Boasts Margins of 70%+
Engages With Sol-Millennium
Toronto, Ontario--(Newsfile Corp. - March 27, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") is pleased to report that the Company's InsuJet™ needle-free injection device is actively sold in 11 countries through NuGen's distributor and wholesale network.
InsuJet™ will soon be readily provided to end-customers throughout Europe through conventional channels, such as pharmacies for patients who have a prescription for the device. The reusable nature of InsuJet™ and its consumables allow competitive prices compared with conventional needles while maintaining high margins. The Company is pleased to report that NuGen's traditional distribution operations is a strong margin business of approximately 70%+.
NuGen has carefully selected a few distributors in key markets to support sales via off-line along with complementary sales channels to ensure more patients can get access to InsuJet™. Our main distribution partner is Sol-Millennium Medical Group, a global medical supply company focusing on safe medication delivery systems. NuGen looks forward to reporting an update on multiple sale agreements with Sol-Millennium in the coming weeks ahead.
"We are one of the world's largest designers and distributors of needles and syringes and experts in our field. On behalf of Sol-Millennium, I am pleased to report that we are delighted to be working with NuGen and be part of the global opportunity which NuGen's InsuJet™ needle-free injection device offers diabetics. We see InsuJet™ as the future and simply as a better way for diabetics to manage their care," commented Mr, Liang Lin, CEO Sol-Millennium. "Together, we share a common goal of Building a Healthier Tomorrow."
"We are extremely excited to expand our sales in Europe and EMEA with the support from our growing distribution network and partners such as Sol-Millennium, who are among the global leaders in safe medication systems. They bring the experience we need to grow sales through various traditional sales channels as we expand and set our eyes on growing our direct-to-consumer e-commerce business," commented Nicky Canton, COO of the Company.
For more details on our B2B distribution business, visit www.nugen.com.
To purchase your own InsuJet™ Device, visit www.insujet.com and use promo code (NUGEN) to receive 20% off for the next 7 days.
Clinical Studies, Certificates and Reports
For more information regarding clinical studies, certificates, or InsuJet™ reports, please visit www.insujet.com and click on the 'Partners' button to learn more. For more information on product testimonials, please visit www.insujet.com and click on the 'Community' button.
Sol-Millennium is a high-growth global medical device company committed to improving the safety and well-being of healthcare workers and their patients with the design and development of innovative safety-engineered medical devices. Sol-Millennium is one of the world's largest designers and distributors of needles and syringes, offering a broad portfolio of patented products with global brand recognition such as Sol-Care for safety sharps, Sol-M for conventional medical devices and Sol-Guard for immunization products.
About NuGen Medical Devices
NuGen is an emerging specialty medical device company developing the next generation of needle-free technologies and other innovative medical delivery products. The Company's products, which include the InsuJet™ and PetJet™ needle-free injection systems, are designed to improve the lives of millions of people and animals. NuGen continues to receive approval in numerous countries, including Canada. NuGen's products are designed for use in several important fields including, but not limited to, diabetes, veterinary medicine, and vaccines.
For further information, please visit:
Websites: www.insujet.com and www.nugenmd.com
For further information, please contact:
Tony Di Benedetto
President & CEO
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This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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