1. Invest in proprietary supplements and nutraceuticals with higher gross margins. As a centerpiece of our strategy, we are focusing capital and distribution on our newest, most profitable proprietary branded products. During 2021, we developed numerous new branded products, many of which have launched with more slated for launch throughout 2022. From R&D, testing, and regulatory registration to distribution onto actual or virtual store shelves takes approximately six to nine months.
2. Leverage unique product strengths and differentiators:
We are well known amongst industry distributors and wholesalers for our attractive, effective packaging that's now synonymous with the SPL brand.
We are capitalizing, literally, on our ‘roots' with a new Mediterranean line incorporating our native, nutrient rich plants by combining carefully selected raw materials based on strict pharmaceutical standards.
3. Expansion of Branded Pharmaceuticals and Generic Pharmaceuticals. We are constantly analyzing the EU prescription market for drugs coming off patent. Generic prescription drugs are a ‘commodity' albeit a highly regulated one, whose profitability is determined by distribution. We are focusing on creating a new line of proprietary branded and generic pharmaceuticals as drugs come off patent.
4. Increase Omni-Channel Marketing. In 2022, we will increase our digital marketing and e-commerce investment to gain market share, lower cost of entry, and speed time to market in new geographic territories, including the growing number of online-only e-pharmacies.
5. M&A and Strategic Alliances. A main priority for 2022 is acquiring accretive companies that are in line with our business. We are actively evaluating opportunities for mergers and acquisitions that will scale our business through vertical integration. This may also include strategic alliances or JVs with distributors, manufacturers, or formulation R&D firms in any corner of the world.
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