Creso to expand into Sri Lanka with its medicinal cannabis lozenges
Health & Biotech
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Special Report: Creso has inked a deal that will soon see its cannabidiol lozenge made available in Sri Lanka.
The company announced today that is has signed a binding Letter of Intent with Ceyoka Health – one of Sri Lanka’s top pharmaceutical distribution companies.
Creso and Ceyoka are already well advanced in the process of getting the necessary regulatory acceptance to sell Creso’s cannAFFORD® 50 lozenge to the local market as a therapeutic product via approved providers.
The cannAFFORD® lozenge is designed to support the management of chronic pain.
It’s a pharma-grade proprietary formulation that works more quickly and effectively compared to swallowing tablets or capsules.
By being dissolved in the mouth, the lozenge’s active ingredients enter the blood stream directly instead of needing to be broken down and absorbed through the intestine and passed through the liver. The buccal formulation allows a quick absorption with a quick onset of action (showed in a PK study recently completed).
Strengthening its foothold
Ceyoka Health is one of the leading pharmaceutical distribution companies in Sri Lanka with network of more than 1,800 pharmacies in its books.
The deal will enable Creso to geographically expand into Sri Lanka alongside a powerful partner and pave the way for the company to explore a range of additional activities in the local medicinal cannabis space to improve the lives of patients.
Creso Pharma’s CEO and co-founder Dr. Miri Halperin Wernli says the partnership will serve as an effective way to expand successfully into the Sri Lankan medicinal cannabis market.
“In addition to their broad distribution network which accesses over 1,800 pharmacies, [Ceyoka] is a company which is heavily focused on investing in innovation.”
“With Ceyoka, we found an ideal fit with Creso’s own philosophy and we anticipate a very long and successful collaboration.”
Mr. S. Premakumar Weyhenage, Ceyoka Health’s CEO echoed her excitement.
“We’re delighted to partner with Creso Pharma, a truly innovative company with a great vision for the medicinal cannabis industry,” he said.