Medical cannabis play Creso Pharma sprints into booming sport market
Health & Biotech
Health & Biotech
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Special Report: Medicinal cannabis developer Creso Pharma has today announced it plans to enter the sports and osteoarthritis market with its CBD-based nutraceuticals and functional cosmetics.
Under the cannaDOL® brand the company will market a range of oral cannabidiol (CBD) based nutraceutical and first-in-class CBD-based functional cosmetics to alleviate joint and muscle pain.
The product range will address the need for organic and efficient support for the management of pain associated with sports injuries and age-related symptoms such as stiffness and arthritis.
Creso Pharma shares (ASX:CPH) gained 3 per cent on the news to trade at 87c.
“People’s perceptions of cannabis consumption have changed,” Creso Pharma CEO Dr Miri Halperin Wernli told Stockhead.
“Cannabis is no longer something to get high on,” she said.
A unique market is emerging
“In the scientific community, CBD advocacy is on the rise, and evidence of its effectiveness across various health issues is growing.
“As cannabis legalisation spreads around the globe, a unique market, based on the health appeals of CBD, is emerging.”
Cannabidiol (or CBD) is one of the active ingredients (or cannabinoids) — found in cannabis and has well-researched medicinal benefits.
But unlike another cannabinoid, tetrahydrocannabinol (THC), it doesn’t get you high.
The two products will be offered under the cannaDOL® brand and will be markedly different.
The topical product range will be centred on a unique blend of CBD and essential oils that have been shown to support the reduction of inflammation and muscle pain, while the oral formulation will be a food supplement.
In oral form, Creso Pharma’s proprietary delivery technology will allow for increased absorption and bioavailability and combine CBD with vitamins and minerals to support collagen synthesis, reducing fatigue and stimulating the metabolism.
The topical products will be developed in partnership with the largest independent Swiss manufacturing group FRIKE Technologies.
“FRIKE Technologies has an excellent reputation for manufacturing to the highest quality standards for a range of leading global brands across the pharmaceutical, cosmetic and chemical sectors,” Dr Halperin Wernli said.
“Given FRIKE’s significant expertise in proprietary, innovative Swiss-made formulations we believe they are the perfect partner.”
A $5.5 billion market
The market of analgesics oral and topical make up over 10 per cent to 20 per cent of that portion of the over-the-counter (OTC) market. The European market has a size of about €3.5 billion ($5.5 billion) at public price levels.
Analgesics sales volume in Switzerland and UK in 2016 was €203 million and UK €603 million respectively. (The Swiss market is high due to price levels).
The market is dominated by NSAID’s oral and topicals, with significant unmet needs and potential for growth as sports and osteoarthritis customers are looking for new organic natural treatment alternatives.
“Our innovative first in class CBD based oral nutraceuticals and dual action functional cosmetics for muscle and joint pain relief offer additional benefits for sports people and for the ageing population and represent a breaking ground alternative,” commercial director Dr. Gian Trepp said.
The cannaDol product range is planned to be launched with commercial partners in the first half of 2019, adding to its already established product offerings of cannaQIX®10 and 50 nutraceutical to reduce stress and its foray into edibles and cannabis beer.
This special report is brought to you by Creso Pharma.
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