- Creso Pharma has received the first order of its flagship cannabidiol product since signing a distribution agreement with Burleigh Heads Cannabis in April
- cannaQIX 50 will be sold in Australia as a medicinal hemp product by BHC, under the name LozaCann
- Creso was recently bought by Canada-based PharmaCielo for $122 million
- Creso shares are up 1.37 per cent up from their last close, trading for 37 cents each in a $55.94 million market cap as at 12:48pm AEST
Creso Pharma has received the first order of its flagship cannabidiol (CBD) product since signing a distribution agreement with Burleigh Heads Cannabis in April.
The medicinal hemp company produces the cannaQIX 50 product from its facility in Sweden. So, it was a milestone moment for Creso when it locked in an exclusive distribution agreement with Burleigh Heads Cannabis (BHC) to import the CBD product into Australia.
cannaQIX 50 will be sold in Australia as a medicinal hemp product by BHC, under the name LozaCann. The product is a lozenge derived from CBD, designed to help patients manage chronic pain. Along with the CBD, the cannaQIX 50 lozenge also contains niacin, and vitamins B6, B12, calcium, and zinc.
According to Creso, the lozenge formula of cannaQIX 50 means it works faster and more efficiently than conventional pain tablets or capsules. By being dissolved and absorbed in the mouth, the medication enters the blood stream quicker by negating the need to first pass through the liver.
BHC is a fully licensed medicinal hemp wholesaler. Its parent company, CDA Health, supports patients and doctors across Australia in applying for, prescribing and sourcing legal medicinal hemp products. CDA also provides education and resources regarding medicinal hemp products.
Creso CEO and co-founder Dr. Miri Halperin Wernli said BHC and CDA are continually expanding their patient reach with their extensive distribution network.
“This will provide a much-needed opportunity for patients to access our innovative products,” Miri said.
She added that the company is optimistic this experience will support Creso’s global expansion in association with Canada-based PharmaCielo, who recently bought Creso out for $122 million.
BHC Director of Operations Guy Headley shared the same enthusiasm as Miri.
“We are excited to provide Creso Pharma with an avenue to market which in turn provides Australian patients and doctors with another quality product option to utilise in patient care,” Guy said.
Creso shares are up, spiking to reach 38 cents a piece today, but have since settled. Shares now trade 1.37 per cent up from their last close, for 37 cents each in a $55.94 million market cap as at 12:48pm AEST.