Wellnex Life Ltd has updated its FY24 financial projections due to operational headwinds, leading to significant revisions in its initial analysis. The company's expansion with Haleon has been delayed to the first half of FY25 because of regulatory bottlenecks in processing over-the-counter applications and manufacturing clearance. This delay has also affected orders from Arrotex and the joint venture with Chemist Warehouse, Wagner Health Liquigesics. Despite these challenges, Wellnex Life expects significant revenue growth in FY25. The settlement of Pain Away in late December and its subsequent strong performance have led to operational profitability in February 2024. This demonstrates the company's resilience and effective strategy of diversifying revenue streams. Although the regulatory delays have impacted the FY24 financial outlook, the recent operational profitability and supply-side developments are positive indicators. With a strengthened board and expanded Haleon partnership, Wellnex Life is well-positioned for growth in the coming periods.
