Pharmacolog and Codonics extend existing agreement to include sales of WasteLog® and associated services into Mexico.
Pharmacolog and Codonics entered into a strategic agreement, appointing Codonics as the exclusive distributor of WasteLog® in the American and Canadian markets one year ago. Today, the company is announcing the agreement has been expanded to include Codonics distribution of WasteLog® into Mexico. WasteLog® is an analytical tool that enables a hospital pharmacy to assay narcotic waste to help prevent drug diversion.
The use of opioids in healthcare in Mexico has increased in the last decade, which has also led to authorities pressuring healthcare providers to better control their narcotic drugs. This in turn has led to a sharp increase in demand for systems that prevent narcotic medications from being diverted. The combination of Codonics Safe Label System® (SLS) integrated with WasteLog® provides a complete solution for fast, accurate identification and handling of narcotic drugs, and has attracted great interest in Mexico.
Mats Högberg, CEO Pharmacolog comments: “The amendment to our agreement with Codonics opens up an exciting market opportunity for WasteLog®. As Mexico encounters an increased use of opiates, the demand for effective waste screening systems has increased dramatically. Furthermore, Codonics has vast experience doing business in Mexico with a substantial installed base. Launching together with Codonics in Mexico means yet another growth opportunity for Pharmacolog.”
Daniel Conde, Ph.D., Director of Regional Sales EMEA/LAR, Codonics, comments: “It is exciting to introduce the WasteLog® product to healthcare providers in Mexico who are at the forefront of medical care. When integrated with Codonics Safe Label System®, it enables prepared and wasted syringes to be scanned to quickly and easily to identify and record the returned narcotic waste and close the loop on medication use, helping to prevent hospital drug diversion.”
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, DrugLog®, WasteLog® and PrepLog®, 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.