Wellness and Beauty Solutions Limited (ASX: WNB) is a medical aesthetics services company, belongs to the consumer services industry group, providing anti-ageing cosmetic and body-sculpting treatments.
The company today, on 2nd May 2019, announced that it will launch nailKALM® in Chemist Warehouse in May 2019, after the receipt of its first order from the pharmacy group. WNB expects that the licensed brand will achieve sales in the Chemist Warehouse of approximately $500k in FY2020.
nailKALM® Dermaceutical Lotion is an anti-fungal product that is registered with the Therapeutics Goods Administration (TGA) as a listed medicine. It contains AMYCOT®, which is a proprietary active ingredient that is clinically proven to provide effective treatment for nails prone to fungal infections. AMYCOT® is a unique scientific formulation derived from blue-green algae and is 100% organic and non-toxic.
Biovite Australia Pty Ltd, in 2018 granted a five-year licence to the wholly-owned subsidiary of the company, The Giving Brands Company Pty Ltd (GBCo) to manufacture, sell and distribute nailKALM® in Australia and New Zealand.
The Managing Director and Chief Executive Officer of the company, Ms Christine Parkes said that one in ten adult Australians are affected by the nail fungal infections as per the Australian Podiatry Association. As a TGA listed product with clinically proven efficacy, the company believes nailKALM® to be an important product to bring to the market. The company is happy to extend its strong relationship with Chemist Warehouse and look forward to the products being sold across other major pharmacy groups going forward.
The Managing Director of Biovite Australia, Danny Goldman said that they have been working in tandem with GBCo to ensure nailKALM® is distributed into the Australian marketplace, so the approximately 1.7 million nail fungal sufferers can access a clinically proven, effective and natural treatment that works. Australia’s leading pharmacy group will go the distance in achieving this goal of having the product available in Chemist Warehouse.
As per the global scenario, the wellness market industry reports showed a $4.2 trillion active and continuously growing market, with WNB being actively involved in the business. The Skincare sector is expected to reach over US$13 billion by 2019.
China and Brazil are identified as the most promising markets with strong growth expected in Indonesia and India, as well as the USA, Saudi Arabia, Argentina, Iran and Mexico. Thailand and Turkey are also showing excellent prospects for future growth.
On the price-performance front, at market close on 2nd May 2019, the stock of Wellness and Beauty Solutions Limited was trading at $0.019, up 5.556% during the day’s trade with a market capitalisation of $6.29 million. The stock has generated a negative YTD return of 57.14% with negative returns of 64.71%, 53.85% and 28.0% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at $0.059 and a 52-week low price at $0.017.