Medlab secures new pharmacy distribution agreement

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Medlab Clinical (ASX:MDC) has signed an agreement with Australian Pharmaceutical Industries (API) to range its nutraceutical range in Priceline Pharmacy.

Medlab said as part of the agreement API will also hold its products in its warehouses. This will expand the potential distribution to more than 2,100 independent pharmacies.

It said the agreement will result in a substantial increase in sales in the 12 month period from official launch.

Medlab said its nutraceutical offering differs from general retail due to its exposure to clinical research and patents. It currently has 27 patents covering a large number of the products in the nutraceutical range.

According to CEO Dr Sean Hall, “Medlab is very excited with this opportunity to work with Priceline Pharmacy and other independent groups as it allows us to support people in the community suffering chronic illnesses by providing them easier access to scientifically backed products via professional pharmacy”.