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Creso first to obtain export rights for high quality medicinal cannabis from Switzerland
2 minute read
Creso Pharma Limited (ASX:CPH) has signed a binding Letter of Intent (LOI) with Cannapharm AG to provide patients in Asia Pacific and Latin America (LATAM) access to top quality medicinal cannabis products from Switzerland.
This is a significant commercial partnership as it will give Creso a first-mover advantage in exporting best-in-class pharmaceutical-grade medicinal cannabis products into these new markets for use to address a range of serious diseases.
Both parties will work towards formalising the collaboration agreement whereby Cannapharm will grant CPH the exclusive rights to import, store, transport, market, distribute, use and sell Cannapharm’s medicinal cannabis products in seven countries in Asia Pacific and LATAM.
By way of background, Cannapharm is a Swiss-based producer of fully Good Manufacturing Practices (GMP) certified medicinal cannabis, licensed by the Swiss Agency for Therapeutic Products (Swissmedic) to manufacture and wholesale medicines.
The group has over 15 years of experience producing products that meet the highest pharmaceutical and GMP standards in the tightly regulated Swiss market, making it a valuable partner for CPH.
The agreement will incorporate distribution to Australia, New Zealand, China, Brazil, Chile, Colombia and Mexico, and also allows for both parties to expand the exclusivity to include additional countries or regions. CPH will operate in strict compliance with all applicable legislations and regulations in the relevant countries.
Builds on position in Australia while providing first mover advantage in overseas markets
This is a significant commercial partnership as it will provide Creso with a first-mover advantage and give it a level of exclusivity in exporting best-in-class pharmaceutical-grade medicinal cannabis products into these new markets for use in addressing a range of serious diseases.
It should be noted here that CPH is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.
Commenting on the significance of this development, CPH’s Chief Executive Dr. Miri Halperin Wernli said, “This partnership with Cannapharm significantly builds on our position within the Australian market as a leading medicinal cannabis company that intends to supply the Australian market with high quality medicinal cannabis products”.
Dr. Halperin Wernli highlighted the fact that Cannapharm is the perfect partner and strategic fit for Creso given the group’s expertise in the cultivation, manufacture and distribution of cannabis derived therapeutic products.
The agreement will strengthen CPH’s overall franchise in the broader cannabis space, bolstering the company’s strong position in the various applications of cannabis and hemp-derived therapeutic solutions in markets where regulations are providing commercial opportunity.