Fast and furious: Wellnex Life in race to be one of Australia’s early pharmacy OTC cannabidiol winners
Wellnex Life is preparing to register its over the counter medicinal cannabis product with the Australian authorities in what it hopes to be one of the first in the country.
CEO George Karafotias told NutraIngredients-Asia that the product, which came in the form of soft gel capsules, was developed for general pain relief, including migraine, menstrual pain and joint pain relief.
In Australia, schedule 3 medicinal cannabis is a nascent market, with the regulator, Therapeutic Goods Administration (TGA) permitting schedule 4 cannabidiol (CBD) to be downscheduled to schedule 3 less than two years ago.
Glanbia has identified plant-based innovation and new ready-to-consume formats as key areas for sports nutrition product innovation to capture new consumers across its brands, including Optimum Nutrition, Isopure, and Body&Fit.
Its flagship brand, Optimum Nutrition, had reported a global revenue growth of 34.9 per cent on the back of positive demand in FY2021.
The company would be introducing new products in the ready-to-drink/eat space, Daniel Beatty, general manager Asia at Glanbia Performance Nutrition said.
‘Possible opportunity’: ANZ infant nutrition firms gear up for US market entry amid formula shortage
Some infant formula manufacturers from Australia and New Zealand are preparing their US market debut amid current shortages across the country.
The Australian Trade and Investment Commission (Austrade) has also advised the local infant formulas exporters to respond promptly to the time-sensitive project, given that the US authorities have reduced regulatory barriers to accept new products.
However, whether this will become a long-term market opportunity will depend on the US’s willingness to relax its stringent policies on overseas products, industry players told NutraIngredients-Asia.
In this episode of Nutrition Asia, Nestle and Wellnex Life discussed how the iron nutrition sector could move ahead by using a new source of iron, as well as using encapsulation technology to enable the slow release of iron supplements in the body.
Wellnex Life, for example, sells its slow release iron gummies under the brand The Iron Company.
On the other hand, Nestle has launched BUNYAD Iron+ for children in Pakistan. This is a dairy powder drink is fortified with a new source of iron that is said to be more suitable for use in dairy products.
Chemist Warehouse says it is “on a mission for expansion” in Australia’s growing beauty-from-within retail sector.
Speaking at the Complementary Medicines Australia (CMA) Innovation Seminar and Supplier Expo earlier in May, the retailer showed data on the bestselling beauty-from-within supplements in Australia across different retail channels.
For example, within Chemist Warehouse, Swisse, Nature’s Way, and Blackmores are the most popular brands.