85.7 F
San Fernando
Monday, Aug 15, 2022
-Advertisement-

Mexico Beckons for Medolife Partnership

Bioceutical company Medolife Rx recently entered an agreement with international product distributors Xoles Del Pacifico that will allow the Burbank-based company to distribute its products in Mexico.

The partnership will enable Medolife, a majority-owned subsidiary of Quanta Inc. also in Burbank, to sell its Immunapen product line and its CBD and non-CBD pain relief/muscle creams. Immunapen is an over-the-counter homeopathic drug designed to enhance the immune system and promote sleep, reduce anxiety and improve energy and focus.

Medolife will also use its patented polarization technology to enhance pre-existing over-the-counter products such as male enhancement products and vitamins. Medolife and Xoles will collaborate on the development of other topical pain management products.

The agreement gives Xoles the ability to market and sell Medolife’s products at thousands of retail locations. Also, the products will be sold through various e-commerce channels.   Financial details about the partnership are currently confidential according to Medolife Chief Executive Dr. Arthur Mikaelian.

Mikaelian wrote in an email to the Business Journal that in the labor-intensive Mexican market, which is also experiencing a new COVID-19 surge, “Medolife products can offer pain relief as well as help with symptoms of viral infections such as COVID.”  The product that will first reach shelves in Mexico will be Medolife’s muscle and pain cream alongside tinctures and sprays that will follow shortly after.

The partnership was in development for more than a year, as negotiations were initially unable to be finalized under Quanta Inc.’s previous management. Xoles has connections with the largest drugstore chains and global big box retailers throughout Mexico and Latin America. Medolife hopes to enter additional countries throughout Latin America as a part of the agreement.

“The Mexican market presents a unique opportunity for the company as it is less saturated than other more established markets, giving Medolife first-mover advantage through this relationship,” Medolife wrote in a statement.   The expansion to Mexico is not Medolife’s first venture outside of the United States. The company’s products are available in the Dominican Republic and Armenia and have been registered and distributed in Russia, Belarus, Kazakhstan and other countries that have free trade agreements with Russia.   In total, Medolife receives orders from 40 different countries. The company is surveying further expansion opportunities in Japan, Vietnam and Cambodia.

Also the company has clinical initiatives taking place in the United States and the Dominican Republic on its lead drug candidate, Escozine, which uses small molecule peptides derived from scorpion venom. The company operates a scorpion lab in the Dominican Republic to conduct research on medical uses of the venom. Currently Medolife is working on a rebrand of its nutraceutical division and hopes to launch the updated branding in the near term. It will retain the rights to market and sell its products throughout the U.S. while seeking new partnerships and joint ventures.

“We are in the middle of working on additional distribution agreements that would bring our products to new global markets as well as in the process of developing new products in high consumer demand areas such as beauty/skin, ingestible and general wellness products,” Mikaelian wrote.   

Antonio Pequeño IV
Antonio Pequeño IV
Antonio “Tony” Pequeño IV is a reporter covering health care, finance and law for the San Fernando Valley Business Journal. He specializes in reporting on some of the biggest names in the Valley’s biotechnology sector. In addition to his work with the Business Journal, Tony has reported with BuzzFeed News on the unsupervised use of Clearview AI, a controversial facial recognition technology. Tony, who also conducts freelance reporting, graduated from the USC’s Master of Science in Journalism program in 2021. He is in his fifth year as a journalist as of 2021.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-