Wellnex Life to Divest Pain Away Brand for Up to AU$21 Million

04:58 AM EDT, 08/06/2026 (MT Newswires) -- Wellnex Life (WNX.L) signed a binding agreement to sell its Pain Away topical pain relief brand's business and assets to Rohto Pharmaceutical's Mentholatum Australasia. The transaction includes a cash consideration of up to AU$21.3 million, comprising an upfront payment of AU$19.8 million and an earn-out of up to AU$1.5 million, the London-listed health and wellness group said Thursday. Completion is subject to shareholder and regulatory approvals, as well as customary closing conditions. The proceeds will be used to fully settle Wellnex's debt, fund its working capital needs, and support its expansion plans and a potential return of capital to shareholders.