Creso Pharma expands European footprint with additional hemp seed oil purchase orders
Health & Biotech
Health & Biotech
The purchase orders received today will open the door for additional purchase orders for Creso Pharma, including its animal health products.
Global medicinal cannabis company, Creso Pharma (ASX:CPH), has expanded its presence in Europe after securing new purchase orders for its human health products.
The purchase orders were received from the Swiss-based health products distributor MHG, and are worth a combined value of CHF230,000 (around A$337k).
The purchase orders were for Creso’s cannaQIX hemp seed oil lozenges, and cannaQIX 50 lozenges – both of which will be sold through MHG’s extensive sales channels that include countries such as Macedonia, Albania, Serbia, and Croatia amongst others.
“The purchase orders will add to the company’s growing revenue line, as well as allow Creso Pharma to expand into new countries,” says CEO of Swiss International Operations, Jorge Wernli.
“This is a key milestone on our journey and commitment to strengthening Creso Pharma’s export business and geographic expansion, which we anticipate will unlock value for shareholders.”
Creso Pharma will be able to leverage MHG’s extensive expertise in pharmaceutical product distribution to expand its footprint within the European continent.
Established in 2016 in Switzerland, MHG focuses on the import and export of health and wellbeing products, and has an established market presence with over 3,500 international points of sale.
Today’s deal represents an important milestone for Creso, and underpins its geographic expansion strategy to expand the human health products into a range of new countries.
Creso and MHG are also currently discussing potential additional purchases for the company’s animal health products.
The sale of animal health products could further increase Creso Pharma’s global footprint and add to its growing revenue profile.
Creso’s lozenges are already being sold in South Africa under the Cannamics brand, as well as in the Netherlands under the existing Red Light Holland brands including iMicrodose.
The Swiss-manufactured products use innovative buccal formulations that enhance bioavailability of the active ingredients.
Each product has been developed following considerable capital expenditure and R&D undertaken by the company’s experienced management team in Switzerland.
This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.