Creso Pharma have had a hugely successful couple of weeks with two exciting pieces of news in the past week which have helped lift the stock to record highs.
- First Product Launch for Creso Pharma
- China Commercial Distribution Agreement signing
The launch of its debut product was in the animal health sector. The first product is called Anibidiol which is produced in partnership with Virbac who are the world's 7th largest Animal Pharma Company with €872 million turnover in FY16. Creso also included in this announcement an update for the market regarding its first human prodcut, CannaQix which is is on trakc for a Q1 2018 launch.
The signing of the China Distribution agreement with Kingdom Group, a company with AUD $90.6m Revenue in H1FY17 and assets over AUD $279m can be viewed as a hugely significant step for Creso Pharma. The agreement gives Creso a strategic foothold in China with Kingdom assisting with importing, marketing and distribution of Creso into China. Kingdom and Creso habe also agreed to Co-develop innovative prodcuts specifically for the Chinese market.
Creso Pharma Shares closed at all time highs of $1.245 on November 21 following these strong announcements.
