Creso Pharma Ltd (ASX: CPH) has announced this morning that it has secured a commercialisation agreement with UK-based Precision HealthCare Ltd to market and distribute Creso's hemp-based human health nutraceuticals in the UK.
The launch of cannaQIX 10 and 50 is planned for the first quarter of 2018.
The business that Creso has partnered with, Precision Healthcare, is a private healthcare company which specialises in the development of consumer healthcare products. It is part of the Precision Marketing Group which sells and distributes consumer healthcare brands to mass retailers and independent pharmacies covering more than 5,000 points of sale in the UK.
The agreement covers the non-exclusive marketing and distribution of Creso's products, targeting UK pharmacies and health food stores.
Creso describes cannaQIX as a unique standardised nutraceutical product, in a proprietary formulation, that contains full plant organic hemp extract with CBD, vitamins and zinc, aiming to reduce stress and to support mental and nervous functions in humans.
Creso announced that it has received confirmation for cannaQIX as a food supplement from the UK Trading Standard Office.
Swiss regulatory authorities have issued a certificate of free sales for the export of the product into the UK from Switzerland.
Creso CEO, Dr. Miri Halperin Wernli, said "We are delighted to partner with Precision Healthcare and to have obtained the necessary regulatory approval for cannaQIX in the UK – both significant milestones for our company".
Precision Marking Group CEO, Matthew Caldwell-Nicholas said "We are very pleased to work with Creso Pharma…and we are looking forward to a successful business partnership."
The Creso Pharma share price has rocketed up 6% at the open in reaction to this news. Creso will have to generate revenue and profit from this agreement in the long-term to justify its rise, but for now excitement is building about the agreements the company is making.
