NEXGEL Announces Partnership with STADA to Distribute and Commercialize Consumer Health OTC Products in North America
12 December 2023 - 12:00AM
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 a partnership with STADA
Arzneimittel AG (“STADA”), a European leader in consumer health, to
distribute and commercialize consumer health OTC products in North
America in 2024.
Adam Levy, CEO of NEXGEL, commented, “We are
pleased to be partnering with STADA, a brand leader in the European
markets. The product launch is expected to be in mid-2024 and will
provide North American consumers with an established European
product.”
About NEXGEL, Inc.
NEXGEL is a leading provider of healthcare,
beauty, and Over the Counter (OTC) products including ultra-gentle,
high-water-content hydrogels. Based in Langhorne, Pa., the Company
has developed and manufactured electron-beam, cross-linked
hydrogels for over two decades. NEXGEL brands include Silverseal,
Hexagels, Turfguard, Kenkoderm, and Dermablock. Additionally,
Nexgel has strategic contract manufacturing relationships with
leading consumer healthcare companies.
About STADA Arzneimittel AG
STADA Arzneimittel AG is headquartered in Bad
Vilbel, Germany. The company focuses on a three-pillar strategy
consisting of consumer healthcare products, generics and specialty
pharma. Worldwide, STADA Arzneimittel AG sells its products in
approximately 120 countries. In financial year 2022, STADA achieved
group sales of EUR 3,797.2 million and reported earnings before
interest, taxes, depreciation and amortization (EBITDA) of EUR
884.7 million. As of 31 December 2022, STADA employed 13,183
people worldwide.
Forward-Looking Statement
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”) (which Sections were
adopted as part of the Private Securities Litigation Reform Act of
1995). Statements preceded by, followed by or that otherwise
include the words “believe,” “anticipate,” “estimate,” “expect,”
“intend,” “plan,” “project,” “prospects,” “outlook,” and similar
words or expressions, or future or conditional verbs, such as
“will,” “should,” “would,” “may,” and “could,” are generally
forward-looking in nature and not historical facts. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance, or achievements to be materially
different from any anticipated results, performance, or
achievements for many reasons. The Company disclaims any intention
to, and undertakes no obligation to, revise any forward-looking
statements, whether as a result of new information, a future event,
or otherwise. For additional risks and uncertainties that could
impact the Company's forward-looking statements, please see the
Company's Annual Report on Form 10-K for the year ended December
31, 2022, including but not limited to the discussion under “Risk
Factors” therein, which the Company filed with the SEC and which
may be viewed at http://www.sec.gov/.
Investor Contact:Valter Pinto, Managing
DirectorKCSA Strategic
Communications212.896.1254valter@kcsa.com
NexGel (NASDAQ:NXGL)
Historical Stock Chart
From May 2024 to Jun 2024
NexGel (NASDAQ:NXGL)
Historical Stock Chart
From Jun 2023 to Jun 2024