Creso Pharma brings marketing and sales of cannaQIX® in-house
Creso Pharma Limited (ASX:CPH, FRA: 1X8) has excelled in the last month in terms of sales and orders for its products, and today the company announced that it is taking over the marketing and sales strategy for cannaQIX®, an initiative that should result in improved profit margins while setting the stage for further new product launches.
This appears to be the logical next step for Creso Pharma as sales gain significant traction.
Strategically, once the sales ramp up it is important to optimise supply chain control in order to maintain client satisfaction while also casting an eye to efficiencies that can be gained, effectively maximising the earnings that can be generated as the top line grows.
Creso Pharma highlighted that it was bringing the marketing and sales function of cannaQIX® in-house, taking over from its commercial partner Doetsch Grether in Switzerland, following a growing trend of direct inbound sales enquiries and interest in cannaQIX® product.
cannaQIX® has established customer base with 2100 points of sale
The product is listed with key wholesalers, reaching over 2,100 points of sales to consumers which are pharmacies, pharmacy networks, drugstores, health nutrition shops and bigger retail shops such as Manor.
Creso is now directly supplying all major wholesalers in the country such as Galexis, Amedis and Voigt.
Creso and Doetsch Grether worked in commercial partnership for over three years with peak sales at wholesale price levels reaching more than CHF 230,000 in 2019.
With Creso now bringing this function in-house, it is able to improve its profit margins for cannaQIX® substantially and can set the stage for further product extensions and new product launches such as cannaDOL® in Switzerland.
Commenting on this development, Creso Pharma commercial director Doctor Gian Trepp said, “We are implementing phase 3 of Creso’s operational launch plan by bringing the marketing and sales function of our products in-house.
"While we are thankful for having benefitted from our partnership with Doetsch Grether, our direct sales model will give Creso the opportunity to expand its profit margins as it enters a new phase of growth.”