Within the framework of the Board’s established strategy, a significant milestone was recently communicated with the sale of Druglog to Raysearch Laboratories AB. Together with the cost-saving measures implemented by the Board, the financial risk is reduced to the extent that the company’s position can pave the way for a new business direction. The Board intends to immediately investigate the conditions for a new business direction, which may include the acquisition of niche and profitable companies in the life science sector.
The work of looking for and identifying potential acquisitions will be done systematically and started immediately. The focus will be on looking for niche and unlisted businesses in medical technology and pharmaceuticals. Furthermore, the companies must have a history of profitability.
In parallel with investigating the new business direction, the strategy is also underway to divest Wastelog, a product that for many years has had greater sales success than Druglog, not least in the US market. Pharmacolog is in ongoing discussions with potential buyers regarding Wastelog. A successful sale of Wastelog would further strengthen the company's financial position and the conditions to execute on the possible new business direction.
Erik Hedlund, Chairman of the Board and main owner of Pharmacolog: "The Board has in parallel with the work in Pharmacolog built up a unique network in the life science sector and especially towards small and medium-sized companies. Many of these companies, even if they show profitability, lack the competence and financial resources to develop their businesses further. Through the acquisition of less profitable companies in life science, Pharmacolog intends to build a group of companies that generate positive cash flows and with the goal of creating value growth for its shareholders."
For more information contact:
Lars Gusch, CEO
Email: lars.gusch@pharmacolog.com
Phone: +46 70-223 97 72
About Pharmacolog
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.
The following trademarks are owned and protected by Pharmacolog i Uppsala AB: Pharmacolog™-logo, WasteLog™, and Pharmacolog Dashboard™.
Further information regarding the company is available at https://pharmacolog.com/.
The company’s Certified Adviser is Mangold Fondkommission AB.
Release