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- Creso Pharma (CPH) records more than $800,000 of revenue in the fourth quarter from its Swiss business
- This represents a 126 per cent increase on the previous quarter according to a CPH statement
- Based on current performance, CPH believes it’s well positioned to exceed last year’s revenue with 117 per cent of growth already
- After opening distribution to major Swiss wholesalers, the first round of orders from pharmacies for its cannaDOL gel products have begun
- Creso Pharma is trading steady at 14.5 cents
Creso Pharma (CPH) has so far recorded more than $800,000 of revenue in the fourth quarter from its Swiss business.
This marks a 126 per cent increase on the division’s revenue over the previous quarter according to a CPH statement.
Swiss sales have added a total of $2.56 million in revenue to the Swiss arm of the company.
CPH has placed itself well to exceed last year’s revenue with 117 per cent of growth this far.
After opening distribution to major Swiss wholesalers, the first round of orders from pharmacies for its cannaDOL gel products have started coming in.
Creso recently entered a letter of intent with a Swiss based cannabis grower Innuana.
Creso Pharma Chairman Adam Blumenthal said the demand for cannabis health products have increased recently.
“Demand for our human health product suite has increased recently, highlighting Creso Pharma’s ongoing shift from a product development focused company, to a diversified commercial life sciences company with a global reach,” he said.
“We anticipate that revenue will continue to increase over the remainder of Q4 2021, when additional purchase orders across Switzerland and Canada materialise.
“The company has a number of business development initiatives underway and remains committed to significantly growing its sales pipeline through international expansion efforts and partnership agreements.”
Creso Pharma was trading steady at 14.5 cents at 3:34 pm AEDT.
