Pharmacolog and Codonics extend existing agreement to include sales of WasteLog® and associated services into the Middle East Region
December 16, 2021. One year ago, Pharmacolog and Codonics entered into a strategic agreement, appointing Codonics as the exclusive distributor of WasteLog® in the American and Canadian markets. Today the company is announcing the agreement has been expanded to include Codonics distribution of WasteLog® into the Middle East. WasteLog® is an analytical tool that enables a hospital pharmacy to analyze narcotic waste to help prevent drug diversion. It will be on display in the company’s booth at the Arab Health 2022 held in January in Dubai.
The use of opioids in healthcare in the Middle East 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 the Middle East.
“The latest amendment to our agreement with Codonics opens up yet another exciting market opportunity for WasteLog®. As the Middle East healthcare providers follow U.S. standards in many aspects, they also work purposefully to prevent drug diversion, which includes the establishment of efficient procedures for waste screening. The demand for effective and easy to use tools has, therefore, increased dramatically,” stated Mats Högberg, CEO, Pharmacolog. “Furthermore, Codonics has vast experience doing business in the Middle East with a substantial installed base. Launching together with Codonics provides us with access to this growing market immediately, and will contribute to Pharmacolog’s continued growth and shorten our path to profitability.”
“It’s exciting to introduce the Wastelog product to our Middle East customers,” said Eric Tual, Codonics General Manager for Europe, Middle East and Africa. “When integrated with Codonics Safe Label System®, it enables prepared and wasted syringes to be scanned to quickly and easily identify and record the returned narcotic and close the loop on medication use, helping to prevent hospital drug diversion.”