Creso Pharma’s flagship cannaQIX® exceeds milestone of 2.5 million lozenges sold
Creso Pharma Limited (ASX:CPH, FRA:1X8) has informed the market that its flagship cannaQIX® line surpassed the milestone of 100,000 packs sold.
The company has already delivered positive news flow throughout January resulting in its share price increasing by more than 70% from about 11 cents at the start of the month to a high of 19 cents.
Importantly, this share price accretion is performance driven as Creso Pharma has achieved increased distribution in other areas of its business, as well as flagging its upcoming entry into new markets, factors that will assist the group in delivering on the anticipated strong revenue growth in 2020.
The cannaQIX® hemp oil derived food supplement is currently available in Switzerland, UK, Australia, Brazil and New Zealand.
2.5 million cannaQIX® lozenges sold
The 100,000 packs milestone corresponds to over 2.5 million cannaQIX® lozenges sold since the product’s launch in April 2018.
Creso Pharma developed cannaQIX® 10 to help manage stress and cannaQIX® 25 and 50 to help manage chronic pain.
The initial target markets for these products were the UK, Switzerland, Australia, New Zealand and Brazil.
Creso Pharma produces the cannaQIX® range of products in Switzerland and has commercialised them in collaboration with several partners in Europe, Oceania and Latin America.
The products are being distributed through pharmacies and drug stores in Europe, as well as through doctors and clinics in Oceania and Latin America.
Highlighting Creso Pharma’s expertise in the development of the cannaQIX® range and the decided benefits that the company’s technological capabilities will provide in strengthening its portfolio of products, Jorge Wernli, commercial director said, “Creso Pharma’s cannaQIX® hemp oil-derived products are unique, all Swiss-made and produced in GMP facilities complying with local regulatory requirements.
‘’Creso Pharma has developed a number of new alternative technologies to provide these innovative hemp oil-based products, responding to customer needs and complying with regulations.
‘’With our technological capabilities and international scientific and commercial partnerships, we are well-positioned to continue growing our portfolio of commercialised animal and human health products.”