Business
NuGen Medical Reports Distribution Business Boasts Margins of 70%+
Engages With Sol-Millennium Toronto, Ontario--(Newsfile Corp. - March 27, 2023) - NuGen Medical ...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen Medical Reports Distribution Business Boasts Margins of 70%+Engages With Sol-MillenniumToronto, 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 ...