Creso to tap sports and osteoarthritis market with new cannaDOL® range
Creso Pharma (ASX:CPH) today revealed it plans to enter into the sports and osteoarthritic market with its innovative CBD-based cannaDOL® product range, comprising both oral nutraceuticals and functional cosmetics.
CPH has joined forces with FRIKE Technologies, the largest independent Swiss manufacturing group, to produce its range of functional cosmetics under the cannaDOL® brand.
The entire cannaDOL® range addresses the need for organic and efficient relief from muscle and joint pain associated with sports injuries and age-related symptoms such as stiffness and arthritis.
The cannaDOL® functional cosmetics products are based on a unique blend of CBD and essential oils that have been clinically studied for supporting the reduction of inflammation and muscle pain.
These will be provided in two different strengths and will be registered as cosmetics in the European Union.
Menthol provides a cooling effect, while the proprietary combination of essential oils heat the targeted area to open up capillaries, penetrating deep into the tissue and stimulating blood circulation in the affected area to accelerate the healing process. The dual modes of action, moreover, provide fast relief for cramped and tense muscles.
CPH’s cannaDOL® oral formulation, on the other hand, is a food supplement in a proprietary delivery technology with high bioavailability and absorption. Its combined CBD, vitamins and minerals formula supports collagen synthesis, reduces fatigue and stimulates the metabolism.
CPH is targeting an expansive market with clearly unmet needs. Oral and topical analgesics make up over 10-20 per cent of the over-the-counter (OTC) market. The European market alone is around €3.5 billion at public price levels. With sports and osteoarthritis customers looking for new organic treatment alternatives, there is scope here for considerable market growth.
However, the size of the market share CPH can secure remains to be seen at this stage, so if considering this stock for your portfolio, do your own research and seek professional financial advice.
CPH marketing and commercial director, Dr. Gian Trepp, said: “Our innovative first in class CBD based oral nutraceuticals and dual action functional cosmetics for muscle and joint pain relief offer additional benefits for sports people and for the ageing population and represent a breaking ground alternative.”
CPH CEO and co-founder, Dr. Miri Halperin Wernli, said: “We are delighted to be partnering with FRIKE Technologies, which has an excellent reputation for manufacturing to the highest quality standards for a range of leading global brands across the pharmaceutical, cosmetic and chemical sectors. Given FRIKE’s significant expertise in proprietary, innovative, Swiss-made formulations, we believe they are the perfect partner.
“People’s perception of cannabis consumption have changed,” Halperin Wernli said. “Cannabis is no longer something just to get ‘high’ on. In the scientific community, CBD advocacy is on the rise, and evidence of its effectiveness in various health issues is growing. As cannabis legalisation begins to spread around the globe, a unique market based on the health appeals of CBD is emerging.
“With our innovative CBD based oral nutraceuticals and functional cosmetics for muscle and joint pain relief in sports and for the aging population, Creso will continue to build our leading position in the global cannabis industry.”
CPH plans to launch the cannaDOL product range with its commercial partners in the first half of 2019.