Creso Pharma agreement signals entry into Scandinavia
Creso Pharma Limited (ASX:CPH) has signed a commercial term sheet agreement with Farmagon, Oslo, Norway to enter the Scandinavia market with Creso products.
Farmagon is an established wholesale distributor in Norway, with over 25 years of experience in pharma in Scandinavia.
Through this partnership, Creso expects to leverage Farmagon’s licences, deep industry know-how and active retailer distribution channels to bring in-demand medical cannabis products to Scandinavia and surrounding markets.
Under the agreement, Farmagon has the right to commercialise Creso’s products under co-branding with Creso, or white labelling in the defined territory, subject to prescribed minimum order quantities.
The first phase of the commercial roll out will be the focused on the launching of cannaQIX® 50 and cannaQIX® 10, both of which will be marketed as medicinal cannabis products under a required narcotics licence.
Farmagon brings supply chain advantages
In managing the sales operations, all aspects of the supply chain from medical professionals to shopfront and online distributors are in place.
The sales channels will comprise doctors across a range of disciplines including alternative medicine, oncologists, neurologists and pain management doctors.
In terms of the group’s sales strategy, distribution to retail, pharmacies, drugstores, grocery shops and online is being coordinated.
The agreement covers Norway as a commercial gateway as well as Denmark, Sweden and Finland, and can be terminated by either party giving 3 months’ notice.
Highlighting Scandinavia’s high profile position in terms of science based products, Creso Pharma’s chief executive and co-founder Dr. Miri Halperin Wernli said, “We are excited to enter the Scandinavian markets with our products.
‘’Besides being an attractive market this will bring excellent opportunities as Scandinavia is a top quality reference for marketing science based products.
Farmagon brings a wealth of experience to the table having operated for decades in the pharmaceutical space, whereby it now benefits from long-standing strong relationships across the supply chain, including an active retailer distribution network across the region.
There are also obvious benefits that will flow from the group being an authorised wholesale organisation with narcotics licences for healthcare products for humans and animals in place.
Chief executive and founder of Farmagon John Schnell said, “We look forward to working together with Creso Pharma to realise this exciting opportunity.”