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Creso Pharma Limited (ASX: CPH) is a healthcare company which has a primary interest in the medical cannabis sector. It aims to improve the lives of humans as well as animals by developing and manufacturing highest quality products through pharmaceutical expertise and methodological rigor. The company also has global rights for a number of unique and proprietary innovative delivery technologies.
On 18th April 2019, the company announced that along with its marketing partner, SIN Solution, it has received regulatory clearance from Brazilian health regulatory agency ANVISA to import its first medicinal cannabis product, cannaQIX® 50 into Brazil.
Sales and Marketing in Brazil
SIN Solutions is a Brazilian company which is specialised in the market-access, sale and distribution services of health care products. With access to more than 350,000 health professionals and over 200,000 direct patient contacts in the region, it has an extensive commercial network.
SIN Solutions will help Creso Pharma in sales and marketing in Brazil and also engage in support of patientsâ access with regards to regulatory authorities and insurers. The first focus will be on high populated cities of Sao Paulo, Rio de Janeiro, and Curitiba (Parana); having a combined population of more than 22 million.
cannaQIX® 50
The cannaQIX® 50 is used for the patients who are suffering from chronic pain, especially pain related to neuropathic diseases such as multiple sclerosis, Parkinsons and cancer. Last year, the product had been launched in New Zealand, and its success has led to the commercialisation in Brazil. cannaQIX® 50 is different from other medical cannabis oils through its full spectrum cannabis and hemp oil-based CBD. It is combined with vitamins, minerals and capsicum in the companyâs proprietary delivery system for fast absorption and a high bioavailability in the body. Good manufacturing standards have been kept in mind in the development of cannaQIX® 50. The production is done in Switzerland by the companyâs partner Domaco, Dr. med Aufdermaur AG.
Import by MedDepot
San Paulo based company, MedDepot will help Creso Pharma to import the product in Brazil. MedDepot is associated with the SR Group which is dedicated to distributing medicines on a global scale. It manages the full process from importing the medicines to Brazil (that are not commercialised) to facilitating patient access the imported medicines.
Directorâs Statement
Jorge Wernli, Commercial Director of Creso Pharma, expressed excitement to receive the approvals from ANVISA for their first product into Brazil. They can now cater to patients with cannaQIX® 50 which has additional benefits. He also stated that they have overcome the challenge of efficient delivery of the natural full spectrum plant substances to the body
Alessandra Cesar, Director of SIN Solution, stated they are excited to work with Creso pharma as these new medical cannabis products will lead to a positive health-economic impact on the Brazilian healthcare system.
On 5th April 2019, the company announced capital raising up to $5.3 million via a series of secured loan.
On 2nd April 2019, a progress update of the companyâs commercialised current product portfolio was released.
Technical outlook
The market capitalisation of the company is A$61.52 million. The 52-week high and low of the stock is A$0.885 and A$0.30 respectively. The stock traded 2.17% down at A$0.45 (as at AEST: 2:31 PM, 18 April 2018). In the last six months, the stock has delivered a negative return of 20.7% and YTD return stands at negative 14.8%. However, over a month, the stock has soared by 37.31%.
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