Codonics Inc. has ordered 8 WasteLog® systems from Pharmacolog. The systems will be equipped with a modified software to be able to read barcodes that Codonics Safe Label System creates.
In December 2020, Codonics Inc, Middleburg Heights, Ohio, US and Pharmacolog entered into a long-term partnership agreement for the US market. Prior to that, in the autumn of 2020, the companies had collaborated to integrate the companies’ products in order to create an efficient workflow when controlling returned narcotic drugs. Codonics Safe Label System (SLS) is a system for the safe handling of medicines. SLS registers all drugs used, especially in surgery and intensive care, and creates unique labels to prevent confusion and avoid incorrect medication. WasteLog® reads these labels and information about which drug and concentration is automatically registered in the WasteLog® system. Codonics Inc. orders 8 systems with the new software that enables the loading of labels created with SLS. The order value amounts to approximately SEK 1.6 million.
Mats Högberg, CEO, comments: “We are pleased to take the next step in our collaboration with Codonics. Their Safe Label System is a unique system for safer and more efficient handling of intravenous drugs. Together with WasteLog®, we set a completely new standard when it comes to control of returned narcotic drugs, so-called waste screening, which is an important component of a complete Drug Diversion Prevention program. The demand for effective solutions for controlling returns is high in the United States, where the opiate epidemic puts great pressure on healthcare to have control over their narcotic drugs.”
This information is insider information that Pharmacolog AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on 21st of January, 2021 at 21:00.
About Pharmacolog AB
Pharmacolog is specialized in developing systems and solutions for more effective and safer use of intravenous drugs. The company’s first product, DrugLog®, enables a nurse or pharmacist to quickly and easily verify that an injectable drug has the right identity and concentration. Pharmacolog’s long-term vision is an individually optimized medication for each individual patient, considering all available parameters in the control and distribution of the drug. Further information regarding the company is available at http://www.pharmacolog.com. The company’s Certified Adviser is Mangold Fondkommission AB, which can be reached on telephone number +46 8-5030 15 50 or through CA@mangold.se.