Pharmacolog receives largest order to date – a strong start to 2023
Pharmacolog’s partner, Codonics Inc. installs WasteLog™ in two new hospitals and places an additional order for thirteen WasteLog™ units which will add approximately SEK 5 million to the company whereof SEK 2 million is payment for already delivered systems.
Pharmacolog’s distributor and strategic partner Codonics, Cleveland, Ohio continues to take orders and supply WasteLog™ devices to leading US hospitals.
The risk of narcotic drugs ending up in the wrong hands, so-called Drug Diversion, is a pervasive problem in healthcare. Every healthcare facility is vulnerable to Drug Diversion and must have a comprehensive program to prevent it from occurring. An important part of any drug diversion prevention program is an effective and reliable waste control process. Interest in analytical equipment for waste screening of narcotic preparations is growing steadily and as a result Pharmacolog and Codonics are experiencing increased demand for WasteLog™. During the fourth quarter of 2022, Codonics took several orders to be installed during the first quarter 2023 and therefore, they ordered an additional thirteen WasteLog™ units for immediate delivery.
Per Persson, CEO Pharmacolog comments: “The need for our solutions in this heavily regulated environment continues to increase rapidly and customers value our unique product offering. Even though the market suffers in the aftermath of the pandemic, we have worked tirelessly with marketing and sales together with our partner Codonics. Therefore, it is gratifying to start the year with an order which indicates that our dedicated work has paid off. We are grateful to provide the solution that helps healthcare facilities to detect and prevent drug diversion and avoid penalties”.
This disclosure contains information that Pharmacolog is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 18-01-2023 08:03 CET.
Pharmacolog provides solutions and products that enhance work efficiency and safety when preparing injectable medication. Our goal is to help prevent medication errors and ensure maximum medication efficacy when treating patients with powerful yet potentially harmful injectable drugs. Pharmacolog’s products help staff at pharmacies and hospital wards minimize the risk of errors in the compounding process. Furthermore, by verifying that drugs and narcotics used in surgery have not been tampered with, our solutions also make a vital contribution to preventing drug diversion.