3,250 InsuJet Starter Packs Being Delivered to Pharmacies Across Canada
Toronto, Ontario--(Newsfile Corp. - November 22, 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 the national launch of InsuJet™ in Canada. The launch began on November 15, in conjunction with the commemoration of the World Diabetes Day, where InsuJet™ was celebrated and recognized at a special event held at Banting House in London, Ontario - the birthplace of Insulin.
NuGen received an initial order for 2,500 and a second order of 750 units of InsuJet™ starter kits and consumables representing revenue of $670,000 and a gross margin of $368,500 in Q3 and Q4 2024.
Leading pharmacy networks such as London Drugs, Prue Integrative Pharmacies, Pharmasave, Wholehealth Pharmacy Partners, Pharma Brands Canada, Overwaite SaveOn Pharmacies and other well-known Canadian pharmacies are supplied with the InsuJet™ through major distributors including McKesson Canada, Khol & Frisch Distributors, Imperial Distributors and UniPharm Distribution, which are collectively providing all 12,000 pharmacies across Canada access to InsuJet™.
Karen Dunlap, NuGen's Interim Chief Executive Officer, commented: "We are extremely excited to be taking NuGen to a new level of distribution globally to manage diabetes and the delivery of insulin needle-free. As the birthplace of Insulin, Canada represents another great place for us with the rest of the world to follow with InsuJet™ approved for use in 42 countries. We are combining our technical IP experience with our distributor's commercial and clinical strategies to support this strong growth."
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, and www.nugenmd.com
Instagram: @NuGenMD
Twitter: @NuGenMD
LinkedIn: https://www.linkedin.com/company/nugenmd/
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