Creso Pharma (ASX:CPH) and Pharma Dynamics are getting set to push into African continent in the coming months with the preparation of the cannaQIX® product range for nine African countries.
First production orders for cannaQIX® regular are in process with customers set to gain access to an affordable, high-quality, broad-spectrum hemp oil based GMP lozenge nutraceutical product.
Pharma Dynamics is a wholly-owned subsidiary of Lupin Limited (NSE:LUPIN), among the top eight leading global generic pharmaceutical companies.
Pharma Dynamics CEO, Erik Roos said: “In line with our ethos of increasing access to affordable, quality medication, we have identified Creso Pharma as our partner of choice.”
Creso Pharma is globally recognised as a leader in the production of cannabis products with distribution agreements already in place in various countries in Europe and AsiaPac. We are looking forward to the launch of the cannaQIX® range in first African countries.”
The cannaQIX® range of products are cannabidiol (CBD) hemp oil-based nutraceuticals using Creso Pharma’s proprietary innovative delivery technology. They contain broad spectrum organic hemp oil extract with CBD aiming to reduce stress and to support mental and nervous functions.
cannaQIX® regular comes in packs of 24 lozenges in a proprietary delivery formulation designed for buccal absorption and to dissolve in the mouth. This method works faster and more efficiently than tablets or capsules which need to be swallowed and have a high percentage of their ingredients broken down when absorbed through the intestine and passed first through the liver. By being dissolved in the mouth, the active ingredients enter the bloodstream directly, avoiding this first pass through the liver. The products are sugar-free and contain no tetrahydrocannabinol (THC).
The global market penetration of cannaQIX® continues to expand rapidly and Creso Pharma has been accelerating its business operations to capture the opportunity.
Dr Miri Halperin Wernli, Creso Pharma’s CEO and Co-Founder said: “ We are very excited to work together with our preferred partner Pharma Dynamics for the launch of the cannaQIX® product range into the first key countries in Africa.
We are delighted to offer to the customer a top quality product with a top quality partner at an affordable price.”
In conjunction with execution of the Commercial Agreement, Pharma Dynamics has also made two initial orders for cannaQIX® regular with an approximate value of A$300,000. It is expected that the product will be available at leading South African retail pharmacies in the first quarter 2020.
CannaQIX®’s global market penetration has increased significantly this year. In the June quarter, cannaQIX® became available in major retailers like Holland & Barrett and Boots in the UK, and Creso Pharma received approval to import the product into Brazil and Australia.
The cannaQIX® range has been developed to Good Manufacturing Practice standards and is produced in Switzerland by Creso Pharma’s partner, Swiss-based food and pharma development company, Domaco, Dr. med Aufdermaur AG (Domaco) to the highest Swiss quality with a “Swiss Made” label.