THE recent acquisition of the Guild's Gold Cross product range by iNova Pharmaceuticals has been said to usher in a "new era of collaboration that is set to refresh the iconic portfolio".
Singapore-based iNova acquired the brand along with Skin Basics and David Craig from ASX-listed Probiotec, paying $13.5m in a deal which settled last month.
The Gold Cross range is made in Australia and is exclusively supported and endorsed by the Guild, currently comprising more than 50 pharmacy-only products.
iNova has distributed the range for some years, with iNova CEO Dan Spira saying the acquisition creates opportunities to "more effectively adapt and promote" the products.
Spira said the iNova team was currently reviewing and refreshing the range to optimise the portfolio for a new generation of consumers.
"We want to work with the Guild to re-build the presence of this range in-pharmacy," he said, while also flagging the potential to expand international distribution of the Gold Cross products.
"We believe the range has untapped potential in Asia, where there is a strong demand for established, Australian-manufactured brands," Spira said.
Pharmacy Guild of Australia National President George Tambassis said the deal with iNova was an exciting turning point.
"The Gold Cross range has long been a trusted choice for both pharmacist and consumers alike," Tambassis said.
Gold Cross Products & Services Pty Ltd is a fully owned subsidiary of the Guild which endorses products and services badged with the Guild logo, which has featured on Gold Cross items since 1962.
Income received by the Guild for the use of the Gold Cross branding will continue to support the Guild's activities in promoting community pharmacy, particularly in developing new initiatives and expanding the role of pharmacists, Tambassis said.
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