Business
NEXGEL and STADA Partner to Launch Leading European DAO Enzyme Supplement, Histasolv, in North America
LANGHORNE, Pa., June 11, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: NXGL), a leading provider of medical and over-the-counter
About this update from Nexgel, Inc
[{"type":"text","content":"LANGHORNE, Pa., June 11, 2024 (GLOBE NEWSWIRE) -- NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: NXGL), a leading provider of medical and over-the-counter (OTC) products including ultra-gentle, high-water-content hydrogels for healthcare and consumer applications, today announced the first product to be distributed under its recently formed partnership with STADA Arzneimittel AG (“STADA”), a European leader in consumer health. Histasolv®, sold as DAOSIN® in Europe, is Europe’s number one selling Diamine Oxidase (‘DAO’) enzyme supplement generating well over $10 million in annualized revenue to treat histamine food intolerance, which can cause migraines and headaches, gut issues, and skin conditions. Headquartered in Germany, STADA is one of the fastest growing top ten companies in consumer healthcare and the fourth largest manufacturer in this segment in Europe. Adam Levy, CEO of NEXGEL, commented, “After several months of collaboration and planning, we are pleased to announce our distribution of Histasolv, the first product to be released through our partnership with the well-recognized European healthcare leader, STADA. Histasolv is one of STADA’s leading consumer products in Europe and stands out as the preferred choice among consumers seeking effective and safe histamine management due to its superior ability to reduce symptoms of histamine intolerance. We always strive to offer products that have the potential to disrupt the traditional consumer health industry with innovative formulation and technology, and Histasolv fits perfectly within our business model.” Histasolv’s innovative formulation and packaging strongly differentiate it from competing products in the market today. Due to its unique formulation, Histasolv can withstand the upper intestinal tract to deliver the highest potency of DAO, an important digestive enzyme in the body, to the lower intestine where it is needed. Additionally, each tablet is Individually sealed and preserved with nitrogen in a blister pack and secured in a foil pouch, enhancing stability and ensuring potency. NEXGEL will begin selling Histasolv direct-to-consumer in the third quarter of 2024. STADA Chief Business Officer USA Patrick Genestin, stated, “We are delighted to take this important step of expansion into North America. This partnership further strengthens STADA´s role as a part...