Rhinomed’s step ladder in competitive US pharmacy sector
Rhinomed (ASX: RNO) radically improves the way people breathe, sleep, maintain their health and take medication. The company produces a wearable nasal stent platform that reduces snoring, increases air intake and relieves congestion and allergies through essential oil formulations.
Rhinomed (ASX: RNO) radically improves the way people breathe, sleep, maintain their health and take medication. The company produces a wearable nasal stent platform that reduces snoring, increases air intake and relieves congestion and allergies through essential oil formulations.
Rhinomed products are now stocked in 20 000+ stores, mostly within the US’ major pharmacies like Walgreens and CVS. Expanding so rapidly into the US market is a remarkable achievement. We can’t think of another Australian medical product that has achieved such wide distribution into the US retail sector.
“We’re one of those rare Australian companies where we have a true global presence. We’re actually bigger in the US than we are in Australia,” says MD and CEO Michael Johnson.
Rhinomed is now expanding its products to include treatments for issues like nausea and anxiety. It’s also entering the fast-growing, USD $18B CBD and medical cannabis market.
“[Rhinomed’s] presence, reputation, and our ability to build relationships has allowed us to fast track the new product ranges. In terms of what’s next, there’s some really exciting opportunities to expand what we can do with this technology platform,” says Michael.
In today’s investor briefing, MD and CEO Michael Johnson spoke about what’s next for Rhinomed.
Key points from the Rhinomed investor briefing:
- Flagship product Mute is fastest growing anti-snoring brand on US market
- Landed licensing deal with Columbia Care, a leading company is the USD $18 billion CBD and medical cannabis market. Includes double digital royalties.
- 2021 revenue growth to exceed record breaking 2020
- Adding 4 additional products to market by 2021
- On track to expand to 30 000 stores in 2021
Join next week’s ‘Meet The CEOs’ webcast – Click here to book your spot.
Recorded on 17 June 2020 at 12pm.
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