LANGHORNE, PA — NEXGEL, Inc. (NASDAQ: NXGL) has announced the distribution of Histasolv®, a leading product targeting histamine food intolerance, under its new partnership with STADA Arzneimittel AG. This marks the first product launched through the collaboration with STADA, a major player in European consumer health.
Histasolv, known as DAOSIN® in Europe, is the top-selling Diamine Oxidase (DAO) enzyme supplement in Europe, generating over $10 million in annual revenue. It addresses histamine food intolerance, which can cause migraines, digestive issues, and skin conditions. STADA, headquartered in Germany, ranks among the fastest-growing companies in consumer healthcare and holds a significant market position in Europe.
Adam Levy, CEO of NEXGEL, expressed enthusiasm about this launch. “After several months of collaboration and planning, we are pleased to announce our distribution of Histasolv,” he said. “Histasolv is one of STADA’s leading consumer products in Europe and stands out as the preferred choice among consumers seeking effective and safe histamine management due to its superior ability to reduce symptoms of histamine intolerance. We always strive to offer products that have the potential to disrupt the traditional consumer health industry with innovative formulation and technology, and Histasolv fits perfectly within our business model.”
Innovative Formulation
Histasolv sets itself apart in the market due to its unique formulation and packaging. The product is designed to withstand the upper intestinal tract, ensuring that the DAO enzyme reaches the lower intestine where it is most needed. Each tablet is individually sealed and preserved with nitrogen in a blister pack, secured in a foil pouch. This enhances stability and ensures the potency of the enzyme.
NEXGEL plans to start selling Histasolv directly to consumers in the third quarter of 2024.
Strategic Partnership
Patrick Genestin, STADA’s Chief Business Officer USA, emphasized the significance of this move into North America. “We are delighted to take this important step of expansion into North America,” he stated. “This partnership further strengthens STADA´s role as a partner of choice in consumer healthcare. Our strategy of focusing on strong local hero brands in Europe provides a rich assortment of appealing consumer products that are available for licensing. With NEXGEL, we are confident we have found a partner with the right strategy and experience, and we can imagine expanding our cooperation in the future.”
Volker Sydow, STADA EVP for Consumer Healthcare, added, “As Europe’s No. 1 DAO enzyme supplement, we are proud to bring our histamine expertise to the North American market, in line with our corporate purpose of Caring for People’s Health as a trusted partner. We are particularly pleased to have found such a strong and committed partner in NEXGEL to help us realize our growth ambitions in the North American food intolerance market.”
Revolutionizing Consumer Health
This partnership between NEXGEL and STADA could have significant implications for the North American consumer health market. Histamine intolerance affects a substantial number of people, causing various uncomfortable and sometimes debilitating symptoms. Introducing a proven solution like Histasolv offers relief and improves quality of life for these individuals.
Furthermore, this launch leverages STADA’s strong brand recognition and proven success in Europe, suggesting a high likelihood of adoption in North America. The partnership also allows NEXGEL to benefit from STADA’s extensive expertise and resources, positioning both companies for robust growth in the region.
Histasolv: Revolutionizing Consumer Health Across Borders
The entry of Histasolv into the North American market could set a precedent for other European health products seeking expansion. It highlights a growing trend of international partnerships aimed at leveraging regional strengths to introduce innovative solutions globally.
The success of this product could encourage further collaborations between NEXGEL and STADA, potentially bringing more of STADA’s diverse portfolio of consumer health products to North America. This could increase competition in the market, driving innovation and offering more choices to consumers.
In summary, the launch of Histasolv through the partnership between NEXGEL and STADA represents a significant development in the consumer health sector. It promises to bring effective relief to those suffering from histamine intolerance and signals a broader trend of cross-border healthcare innovations.
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Publish date : 2024-06-11 19:00:00
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