Arthritis product success results in 600% sales growth
30 August 2016
Arthritis product success results in 600% sales growth for Promisia
NZX-listed New Zealand company Promisia Integrative Limited has reported a 600% sales growth for its flagship product, Arthrem, during the six month period ended 30 June 2016.
Chief Executive Charlie Daily says sales for the period rose to a healthy level of $994,098 for Arthrem – an $850,000 (600%) improvement on sales for the same period in 2015.
This success is borne out by IRI-AZTEC scan New Zealand pharmacy data, which places Arthrem as the fastest growing pharmacy brand and product in dollar terms for 2016. It also ranks 13th among brands in dollar terms in pharmacy for New Zealand.
Arthrem is made from an extract of the plant Artemisia annua, which is grown in Tanzania. Arthrem is the world’s first and only Artemisia annua product specifically formulated for osteoarthritis and joint support.
Arthrem has been the subject of a randomised clinical trial at Otago University. Principal investigator and lead author of the published research Associate Professor Simon Stebbings recently describing the research as having produced “one of the most exciting study results” he has seen in the past 15 years.
The results, published in the peer-reviewed journal Clinical Rheumatology, showed that trial participants with hip or knee osteoarthritis experienced reduced pain and stiffness and an increased ability to move after taking Arthrem.
Mr Daily says although Promisia receives plenty of anecdotal evidence from customers world-wide who are using the product successfully, having scientific proof is important because the company’s point of difference lies in developing and marketing safe and effective natural therapeutic products that are supported by robust scientific research.
Arthrem is a unique product, which gives Promisia – and New Zealand – a strong first-mover advantage in the global joint support remedy market.
“Ageing populations across the Western world mean there will be an ever-increasing demand for joint support products such as Arthrem. As we can see in our most recent sales result, we anticipate there will be exponential and sustainable growth in this market,” says Mr Daily.
Arthrem is sold in New Zealand and the United States, and will shortly be launched in Australia.
Sales in the US continue to grow, with cash expenditure in that market being managed carefully by testing different digital marketing models and using real time measurement of their effectiveness.
The company is making good progress towards the launch of Arthrem in Australia. Arthrem is now manufactured in a Therapeutic Goods of Australia (TGA) compliant facility with Good Manufacturing Practice certification. This is an important step, and a prerequisite, to becoming a listed complementary medicine in Australia. The listing will allow Arthrem to make stronger evidence-based therapeutic claims in its advertising. Current legislation prevents these claims being made in New Zealand, although this is expected to change once the Natural Health Products Bill passes into law.
Mr Daily says Promisia will continue to promote Arthrem aggressively in the New Zealand market. The company is confident that it will exceed its 2016 objective of capturing at least 3% of the potential New Zealand 305,000 person osteoarthritis market before the end of the year.
Other priorities for
the second half of the year include:
· Listing Arthrem as a complementary medicine in Australia
· Preparation for the launch of Arthrem in Australia in early 2017
· Ongoing refinement of the marketing strategy in the US
· Researching and developing new products, including an arthritis supplement for dogs
Reference: Stebbings, S.,
Beattie, E., McNamara, D., & Hunt, S. (2015). A pilot
randomized, placebo-controlled clinical trial to investigate
the efficacy and safety of an extract of Artemisia
annua administered over 12 weeks, for managing pain,
stiffness, and functional limitation associated with
osteoarthritis of the hip and knee. Clinical
Rheumatology3 December 2015 [epub ahead of print PMID: