InsuJet needle-free injection device: NuGen secures distribution agreement with Verrue Consulting Group in Belgium

InsuJet needle-free injection device: NuGen secures distribution agreement with Verrue Consulting Group in Belgium

According to a report by www.boerse.de, NuGen Medical Devices Inc. has signed a five-year distribution agreement with Verrue Consulting Group in Belgium for the InsuJet device. The agreement aims to simplify the care and lives of millions of diabetics worldwide. The term of the agreement is five years and the company estimates revenue of approximately $2.4 million if the sales target of 7,300 devices is achieved over the term of the agreement.

The introduction of the InsuJet device into the Belgian market by Verrue Consulting Group is expected to have a significant impact on the way diabetes patients in Belgium administer their medication. The distribution of the InsuJet device through clinics, pharmacies, online channels and local sales representatives/sales representatives will facilitate access and use of the device for diabetics. The estimated 770,000 diabetes patients in Belgium, who will initially be the target group for InsuJet distribution, will thus have an improved and more practical method of administering their medication.

The high gross margin of 72% that NuGen expects demonstrates the potential for profitable growth in this market. In addition, the provision of 5,600,000 stock options to purchase shares of the Company's common stock to certain directors, officers and advisors of the Company demonstrates confidence in the potential of the Agreement and the InsuJet Device.

Overall, the agreement is expected to have a positive impact on the needle-free insulin delivery market in Belgium by providing diabetics with a more practical and convenient option for taking medication. This could improve patients' quality of life in the long term and increase the sales potential of the InsuJet device in Belgium.