Wellnex Life completes sale of Pain Away business

Wellnex Life Limited (ASX/AIM:WNX) has finalized the sale of its Pain Away business to Mentholatum Australasia Pty Ltd. The transaction was approved by shareholders at an extraordinary general meeting held on Monday, following an initial announcement on August 6, 2026. All necessary conditions were met for the formal binding agreement to be finalized.

As a result of the sale, Wellnex Life will continue to focus on its liquid soft gel analgesics business, which is supported by the company's TGA marketing authorizations. The company's contract manufacturing operations will continue to operate under a capital-light model with an international reach. The board of directors plans to utilize the cash proceeds from the transaction to retire debt and bolster working capital requirements for ongoing operations.

The company intends to evaluate further options to provide value to shareholders and will provide an update in due course. Wellnex Life Limited deemed the information as inside information in accordance with article 7 of EU Regulation 596/2014, as it is part of UK domestic law.