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On December 20, 2018, Creso Pharma Limited (ASX:CPH) has made an announcement that its brands can now be introduced in the human as well as animal health markets of the US. The information was given with the help of the press release. As per the announcement made, the companyâs brands which have been derived by CBD (or cannabidiol innovation) like cannaDOL®, anibidiol® as well as cannaQIX® can now be made available to the above-mentioned markets. Hemp has been exited in the animal as well as human health markets of the US from CSA (or Controlled Substances Act).
As a result of the companyâs CBD brands now being allowed in the US, the company happens to possess a strong market opportunity. cannaQIX® is presently available for sale in the United Kingdom, Switzerland as well as the Netherlands with the help of the pharmacies. However, in the New Zealand area, it is available for sale in the form of medicinal cannabis which is advised by the physicians. anibidiol® is available for sale with the help of the veterinary networks. It is available for sale in the 17 countries. cannaDOL® is very useful for athletes as this could help in reducing the pain.
As per the key executive of US Hemp Roundtable, the hemp has been exited on the permanent basis from CSA. The press release issued by Creso Pharma Limited depicted that the hemp prohibition removal provides the company as well as the CBD branded products with the extraordinary opportunity. After the bill gets signed by the US President Donald Trump, there are expectations that it would soon become the law. We will now see what the management of the company is saying. The top management of Creso Pharma Limited had reflected favourable views about the change with respect to the laws. They also stated that the company has been working towards the activities which are focused on development of the product as well as market entrance.
The company is being handled by the robust team which includes business as well as pharmaceuticals people. The team happens to possess strong knowledge when it comes to commercializing therapeutical as well as nutraceuticals items in the various markets. All these factors jointly provide the company with a competitive advantage.
Let us now have a look at the performance of stock today. On December 20, 2018, Creso Pharma Limited ended the session in green. The stock price of the company stood at A$0.350 per share which implies the CPH has encountered the rise of A$0.010 per share or 2.941%. The market capitalization Creso Pharma Limited stood at $39.43 million and the stock price of the company is trading towards the lower level. Let us now see how the stock has performed in the previous few months. In the time span of the previous six and three months, the stock delivered the return of -52.11% and -37.61%, respectively.
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