Creso Pharma, an example of cannabis globalization

Creso Pharma is an Australian company marketing CBD products for humans and animals. Its cannaQIX product range includes medicines and dietary supplements, consisting of CBD lozenges designed to combat chronic pain and nerve disorders.

Each lozenge contains 50mg of CBD extracted from hemp, as well as vitamins and zinc; they dissolve in the mouth and deliver the active ingredients, which are absorbed directly into the bloodstream. Produced from hemp and sold over-the-counter and as dietary supplements, these products have successfully adapted to international regulations on cannabis and pharmaceutical products. Creso Pharma has maneuvered brilliantly in this complex environment, ensuring its presence across the globe.

A presence on five continents

Creso Pharma is originally based in the Australian state of New South Wales. It was the first company to import cannabis into the country. In the first stage of its global expansion, Creso first set its sights on the European market. In December 2017, the company signed a 10-year distribution agreement with Doetsch Grether to market CannaQIX in Switzerland and Lichtenstein. The company subsequently set up part of its production in Switzerland, where it obtained export authorization from the local authorities.

She also installed in Canada where it has relocated part of its production following its acquisition of Mernova's cultivation facilities in Nova Scotia. It intends to set up a «global center for research and development of edibles cannabis-based products». The company is currently finalizing its products for introduction on the Canadian market this year. Thanks to the Canadian facilities, it can expand more easily on the American continent.

Creso has successfully expanded internationally and its products are available on every continent, making it a perfect example of the globalization of the cannabis market. During 2018, the company distributed its products in new national markets thanks to partnerships and distribution agreements forged with local players. In Oceania, for example, in addition to its home market of Australia, Creso launched its product in New Zealand through a partnership with medical distributor CANNZ Logistics. Thanks to its office in Switzerland, it was able to reach the British and Dutch markets.

The product was launched in the United Kingdom in partnership with Precision Healthcare, which is responsible for marketing the product in pharmacies and selected food retailers. The company is also targeting Italy, Spain and the Czech Republic as part of its European expansion. In Latin America, the company is already present in Colombia, and has also signed an import and distribution agreement with MedDepot Brasil, which, like its other Brazilian partner SIN Solution, will enable the company to benefit from its network of patients, doctors, clinics, hospitals, insurers, pharmacies, distributors, research laboratories and government agencies.

Its latest expansion operation concerns Sri Lanka where Creso has just signed a letter of intent with distributor Ceyoka Health. However, the company is awaiting regulatory approval for its product, cannAFFORD 50 this time, to be marketed as a medicine. Once this step has been completed, the company will benefit from Ceyoka Health's network to market its product. The company is already present in Asia through an agreement with Super Medic in Israel where it will be marketing a range of products limited to hemp seed oils to comply with regulations.