NuGen Receives Order for Repeat Demand in Mexico
NuGen Medical Devices Inc. (TSXV: NGMD) has received an additional order for 4,500 Insujet injectors from Science Link, their exclusive distributor in Mexico. This order, valued at $525K with an expected gross margin of $341K, follows a previous order of 1,500 units delivered in April 2024. The new order is scheduled for Q4 2024 delivery, bringing total injector sales in Mexico to 6,000 units for the year.
Science Link is expanding distribution channels for InsujetTM across Mexico, including big box retail pharmacies, employer health programs, and online sales. The Mexican diabetic market presents a significant opportunity, with an estimated 14 million adult diabetic patients as of 2021, representing a 10% increase in two years. Diabetes-related health expenditure in Mexico has reached USD $20 billion, placing it among the top ten countries for total health expenditure in this area.
NuGen Medical Devices Inc. (TSXV: NGMD) ha ricevuto un ulteriore ordine per 4.500 iniettori Insujet da Science Link, il loro distributore esclusivo in Messico. Questo ordine, del valore di $525K con un margine lordo previsto di $341K, segue un precedente ordine di 1.500 unità consegnato ad aprile 2024. Il nuovo ordine è programmato per la consegna nel Q4 2024, portando il totale delle vendite di iniettori in Messico a 6.000 unità per l'anno.
Science Link sta espandendo i canali di distribuzione per InsujetTM in tutto il Messico, comprese le grandi farmacie di vendita al dettaglio, i programmi sanitari dei datori di lavoro e le vendite online. Il mercato messicano dei diabetici presenta un'opportunità significativa, con un numero stimato di 14 milioni di pazienti diabetici adulti nel 2021, che rappresenta un aumento del 10% in due anni. La spesa sanitaria relativa al diabete in Messico ha raggiunto USD $20 miliardi, collocandolo tra i primi dieci paesi per spesa sanitaria totale in quest'area.
NuGen Medical Devices Inc. (TSXV: NGMD) ha recibido un pedido adicional de 4,500 inyectores Insujet de Science Link, su distribuidor exclusivo en México. Este pedido, valorado en $525K con un margen bruto esperado de $341K, sigue a un pedido previo de 1,500 unidades entregadas en abril de 2024. El nuevo pedido está programado para entrega en el cuarto trimestre de 2024, llevando el total de ventas de inyectores en México a 6,000 unidades para el año.
Science Link está expandiendo los canales de distribución de InsujetTM en todo México, incluyendo farmacias de grandes cadenas, programas de salud para empleados y ventas en línea. El mercado mexicano de diabéticos presenta una significativa oportunidad, con un estimado de 14 millones de pacientes diabéticos adultos en 2021, representando un aumento del 10% en dos años. El gasto en salud relacionado con la diabetes en México ha alcanzado USD $20 mil millones, colocándolo entre los diez principales países por gasto total en salud en esta área.
NuGen Medical Devices Inc. (TSXV: NGMD)는 멕시코의 독점 유통업체인 Science Link로부터 4,500개의 Insujet 주사기 추가 주문을 받았습니다. 이 주문은 525K 달러의 가치와 341K 달러의 예상 총 이익률을 가지며, 2024년 4월에 전달된 1,500개의 이전 주문에 이어지는 것입니다. 새로운 주문은 2024년 4분기 배달 예정이며, 멕시코에서의 총 주사기 판매량은 올해 동안 6,000개로 증가합니다.
Science Link는 멕시코 전역에서 InsujetTM의 유통 채널을 확장하고 있으며, 여기에는 대형 약국, 고용자 건강 프로그램 및 온라인 판매가 포함됩니다. 2021년 기준으로 멕시코의 당뇨병 시장은 약 1,400만 명의 성인 당뇨병 환자가 있는 상당한 기회를 제공합니다. 멕시코의 당뇨병 관련 건강 지출은 200억 달러에 달하며, 이 분야에서 총 건강 지출이 가장 높은 10개국 중 하나입니다.
NuGen Medical Devices Inc. (TSXV: NGMD) a reçu une commande supplémentaire de 4 500 injecteurs Insujet de Science Link, leur distributeur exclusif au Mexique. Cette commande, d'une valeur de 525 000 $ avec une marge brute attendue de 341 000 $, fait suite à une commande précédente de 1 500 unités livrées en avril 2024. La nouvelle commande est prévue pour livraison au quatrième trimestre 2024, portant le total des ventes d'injecteurs au Mexique à 6 000 unités pour l'année.
Science Link élargit ses canaux de distribution pour InsujetTM à travers le Mexique, notamment les grandes pharmacies de détail, les programmes de santé des employeurs et les ventes en ligne. Le marché mexicain des diabétiques présente une opportunité significative, avec environ 14 millions de patients diabétiques adultes en 2021, représentant une augmentation de 10 % en deux ans. Les dépenses de santé liées au diabète au Mexique ont atteint 20 milliards USD, le plaçant parmi les dix premiers pays pour les dépenses totales de santé dans ce domaine.
NuGen Medical Devices Inc. (TSXV: NGMD) hat eine weitere Bestellung über 4.500 Insujet-Injektoren von Science Link, ihrem exklusiven Vertriebspartner in Mexiko, erhalten. Diese Bestellung, die einen Wert von 525.000 $ mit einer erwarteten Bruttomarge von 341.000 $ hat, folgt auf eine frühere Bestellung von 1.500 Einheiten, die im April 2024 geliefert wurde. Die neue Bestellung ist für die Lieferung im vierten Quartal 2024 vorgesehen und erhöht den Gesamtabsatz von Injektoren in Mexiko auf 6.000 Einheiten für das Jahr.
Science Link erweitert die Vertriebswege für InsujetTM in Mexiko, einschließlich großer Einzelhandelsapotheken, Gesundheitsprogramme für Arbeitgeber und Online-Verkäufe. Der mexikanische Diabetesmarkt bietet eine erhebliche Gelegenheit, mit geschätzten 14 Millionen erwachsenen Diabetespatienten im Jahr 2021, was einem Anstieg von 10 % in zwei Jahren entspricht. Die Gesundheitsausgaben im Zusammenhang mit Diabetes in Mexiko haben 20 Milliarden USD erreicht, wodurch das Land zu den zehn Ländern mit den höchsten Gesundheitsausgaben in diesem Bereich gehört.
- Additional order of 4,500 Insujet injectors from Mexican distributor
- Order value of $525K with expected gross margin of $341K
- Total injector sales in Mexico reaching 6,000 units for the year
- Expansion of distribution channels in Mexico, including retail, employer programs, and online sales
- Large and growing diabetic market in Mexico with 14 million adult patients
- None.
Toronto, Ontario--(Newsfile Corp. - July 19, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices to administer therapeutics subcutaneously, is pleased to announce that Science Link, the exclusive distributor of the InsujetTM in Mexico has placed an additional order for 4,500 Insujet injectors to support channel expansion and demand growth in the Mexico market.
The revenue associated with the order is
Science Link previously accepted orders for 1,500 injector units that were received in Mexico in April, 2024. This order of 4,500 units is scheduled to ship in Q4 2024, bringing the total injector sales into Mexico to 6,000 for the year.
Science Link has a demonstrated track record in developing markets in Mexico, with a strong leadership team and networks across the country. The firm is developing opportunities for the InsujetTM across multiple channels, including big box retail pharmacies, employer health support programs run by large multinationals operating in Mexico, and online sales. All of these channels are well supported by healthcare practitioners operating out of clinics in Mexico, including Conglomerate Medical with over 150 locations and over 1,500 clinicians.
"We are very encouraged by the acceptance and demand for the InsujetTM in Mexico and we are investing in our growth plan for the country, expanding our distribution channels and continuing our roll out through retail distribution, employer health programs, and online sales," noted Juan Carlos Feregrino, CEO of Science-Link, "We see a great opportunity to address the unmet needs of the Mexico market, bringing this game changing new technology to the large and growing diabetic population in Mexico."
Mexico Diabetic Market:
In 2021, the estimated adult diabetic population grew to 14 million patients - a rise of
It is estimated that 1 in 6 adults are now living with diabetes2.
About Science-Link
Science-Link is dedicated to bringing disruptive technologies to the market. Science-Link was founded by experienced professionals with over 60 years of combined expertise in the health, wellness and agribusiness sectors. Its mission is to become the leading company in Mexico for the commercialization and distribution of new health and wellness disruptive technologies within the next 5 years. Science-Link utilizes a network of sub-distributors with the purpose of effectively penetrating and positioning InsuJet™ in all 32 States of Mexico, covering both traditional and modern channels. Additionally, Science-Link is implementing digital funnels to accelerate awareness and generate qualified leads for its potential customers, further supporting its distribution efforts.
About NuGen
NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously.
The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics.
InsuJet™ is approved for sale in 42 countries around the world.
For further information, please visit:
Websites: www.insujet.com, www.nugenmd.com and www.solm.com/insujet/
Instagram: @NuGenMD
Twitter: @NuGenMD
LinkedIn: https://www.linkedin.com/company/nugenmd/
and www.linkedin.com/company/sol-millennium-medical-group/
For further information, please contact:
Tony Di Benedetto
Executive Chairman
(416) 791-9399
tony@nugenmd.com
Ian Heynen
CEO
(416) 560-1019
ian@nugenmd.com
To arrange a media interview with NuGen, please contact:
Morna Gorman
(416) 553-1732
morna@nugenmd.com
Notice Regarding Forward-Looking Information:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
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.
1https://www.idf.org/index.php?option=com_attachments&task=download&id=2645:WDD2021_MEXICO_PR_Final
2https://www.idf.org/index.php?option=com_attachments&task=download&id=2645:WDD2021_MEXICO_PR_Final
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217161
FAQ
What is the value of NuGen's (NGMDF) recent order from Mexico?
How many Insujet injectors has NuGen (NGMDF) sold in Mexico in 2024?
What is the size of the diabetic market in Mexico that NuGen (NGMDF) is targeting?
How is NuGen (NGMDF) expanding its distribution in Mexico?
