Creso Pharma shares surge 16% on CannaQix® and the SwissVit™ news
Shares in Creso Pharma (ASX:CPH) hit a high of 51 cents on Wednesday morning after the company announced that it was on track to launch its proprietary CannaQix® human health nutraceutical product, which has applications in the area of anxiety and stress in the first or second quarter of 2018.
Furthermore line extensions in the area of bone metabolism are due for launch in the second quarter of 2019. Yesterday morning’s re-rating represented an increase of 16% compared with the previous day’s close of 44 cents.
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Management also confirmed that the importation of the Swiss medical cannabis products into Asia Pacific and Latin America was progressing as planned and that the company was looking to introduce a range of proprietary SwissVitTM premium nutraceutical products into the Asia-Pacific region and Australia.
On this note, the company is in negotiations with potential commercial partners and expects to formally launch the products in Australia and across the Asia-Pacific region in 2018. The latter represents an attractive market opportunity for CPH with demand for wellness and prevention health products increasing among well-informed consumers as health care cost containment efforts rise.
Discussing these developments, CPH Chief Executive and co-founder Doctor Miri Halperin Wernli said, “We are looking forward to making the Swiss medicinal cannabis products available in the Asia-Pacific region and Latin America, as well as progressing our negotiations with our commercial partners for our innovative SwissVitTM range of products in collaboration with iNNutriGEL over the coming weeks, with an expected launch in Australia and the Asia-Pacific region in 2018”.
SwissVitTM targeting $40 billion market
CPH referred to data from research group Euromonitor in noting that the Asia-Pacific market for vitamins and dietary supplement sales is larger than the US and generated more than US$40 billion in sales in 2016.
According to this source, China is the largest vitamin and dietary supplement in the region, accounting for 45% of total retail value, and it is expected to grow at a compound annual rate of 10% between 2016 and 2021.
CPH plans to launch various SwissVitTM nutraceutical products specifically formulated to target a number of health-related areas including eye health, immunity, bones and joints, oral iron supplementation and digestions.
The innovative patented delivery technology uses buccal absorption of the active molecules (through the blood vessels on the inside of the mouth), offering high bioavailability and absorption of the vitamins.
Management is of the view that the innovative and proprietary characteristics of the delivery technology and the specific vitamin mixes of the products will make Swiss nutraceuticals well suited to the Asia-Pacific region.
Creso on track to introduce animal feed products in September 2017
CPH also announced today that following the registration of hemp extract in the European Feed Material Register, the company was on track to launch its proprietary formulated hemp based complementary feed products for companion and zoo animals in September 2017.
The registered products, anibidiol® 2.5 for small companion animals and anibidiol® 80 for large companion animals and zoo animals will be introduced in Switzerland and Europe, followed by South Africa and selected countries in the Gulf Region and Latin America.