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Dallas-based Mangoceuticals, Inc., trading as MGRX on Nasdaq, has recently made headlines with its innovative approach to men’s health and wellness. Known as MangoRx, the company is carving a niche in the healthcare sector through a secure telemedicine platform, offering unique products like their hair growth solution ‘GROW’ and an ED drug ‘Mango’. In a strategic move to bolster its market presence, MangoRx priced an underwritten public offering of 4 million shares at $0.30 each, eyeing a whopping $1.2 million in gross proceeds.

This bold step, set to conclude around December 19, 2023, aims to finance the marketing and operational expenses of Mango ED and GROW products. Additionally, it will support the hiring of new talent, software development, and general corporate needs. With Boustead Securities, LLC as the sole underwriter, this offering follows a successful registration statement on Form S-1 with the SEC.

MangoRx’s Expansion into Mexico: A Strategic Leap

Earlier, adding to its impressive portfolio, MangoRx announced the formation of MangoRx Mexico. This move marks the company’s entry into the Mexican and broader Latin American markets, focusing on the Mango ED product line. MangoRx engaged Diaz Reus International Law Firm for this expansion, signaling serious investment in its international presence.

Jacob Cohen, Co-Founder and CEO of MangoRx, highlighted the significance of this venture. With ED medications available over-the-counter in Mexico, MangoRx anticipates increased margins and sales volumes. Moreover, the company is set to introduce a flavored rapid-dissolve tablet (RDT) for ED, a first in Mexico.

MangoRx’s steps towards securing a manufacturing partner, obtaining COFEPRIS certification, and formalizing distribution partnerships are underway. These efforts are crucial for penetrating the Mexican market and leveraging the COFEPRIS certification for further expansion into Latin American countries where ED medications are sold over-the-counter.

MangoRx Mexico and the Road Ahead

The leadership of MangoRx Mexico is in capable hands with Efraim (Efi) Karchmer as President, bringing over 25 years of experience in multinational sales, marketing, and distribution. With the Mexican ED pharmaceutical market valued at approximately $216 million and growing, MangoRx’s entry could be transformative.

Partnership with Marius Pharmaceuticals: A New Frontier in T Replacement Therapy

Adding to its impressive growth narrative, MangoRx, on December 13, 2023, announced a partnership with Marius Pharmaceuticals to market and sell KYZATREX®, an FDA-approved oral T Replacement Therapy (TRT) product. Under the ‘PRIME’ program, KYZATREX will be available on MangoRx’s telemedicine platform, with a launch date set for January 31, 2024.

KYZATREX represents a significant advancement in TRT, offering an oral, non-invasive alternative to traditional injection-based therapies. This partnership with Marius underscores MangoRx’s commitment to expanding its product offerings and addressing unmet needs in men’s health.

PRIME by MangoRx: Revolutionizing T Treatment

PRIME, powered by KYZATREX, aims to provide a seamless and discreet solution for men suffering from T deficiency. Shalin Shah, CEO of Marius, expressed enthusiasm for this partnership, highlighting the significant role of T in men’s health and the innovative approach of KYZATREX in the treatment landscape.

MangoRx’s telemedicine platform will facilitate the distribution of KYZATREX across 48 states, ensuring a smooth prescription process and discreet delivery. Cohen noted that PRIME aligns with MangoRx’s identity as a provider of innovative pharmaceutical solutions, marking a new chapter in the company’s growth.

Future for MangoRx

MangoRx stands at a pivotal moment. Its stock market move and Mexican expansion signify a robust growth strategy. The company is not just expanding its geographical footprint but also diversifying and strengthening its product offerings. With a keen focus on men’s health and wellness, MangoRx is set to make significant strides in the healthcare industry, promising exciting developments for investors, stakeholders, and consumers alike.

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Source:

https://finance.yahoo.com/news/mangoceuticals-launches-mangorx-mexico-subsidiary-130000423.html

https://finance.yahoo.com/news/mangoceuticals-introduce-prime-powered-kyzatrex-123000672.html

https://finance.yahoo.com/news/mangoceuticals-introduce-prime-powered-kyzatrex-123000672.html

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