iTWire - Creso Pharma rides cannabis stock momentum itwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from itwire.com Daily Mail and Mail on Sunday newspapers.
Creso Pharma Medical Cannabis For Pakistan And Philippines
Creso Pharma Medical Cannabis For Pakistan And Philippines
February 17, 2021
Australia’s Creso Pharma Limited (ASX:CPH) has inked a distribution agreement that will see its products appear in Pakistan, the Philippines and other countries.
The deal was made with Pakistan-based Route2 Pharm Pvt Ltd, which will import, market, distribute and sell Creso’s hemp derived therapeutic products in the two countries under an exclusive arrangement, and non-exclusively in potential markets including Cambodia, Vietnam, Uzbekistan and others.
“This Agreement has the potential to take Creso into markets with a combined population of over 750 million people,” said the company’s non-executive Chairman Adam Blumenthal.
Creso Pharma Rides Cannabis Stock Momentum
–The below is a company-sponsored announcement–
Momentum for cannabis stocks continues to intensify, as international acceptance instils confidence in companies to develop and distribute legal products.
The confidence in the market was highlighted on Wednesday this week, when GW Pharmaceuticals Ltd. GWPH, announced it was being acquired by Jazz Pharmaceuticals PLC JAZZ in a $7 billion deal.
GW develops Epidiolex, a drug that won US Food and Drug Administration approval as a treatment for severe forms of childhood epilepsy in 2018, while JAZZ is a specialist in sleep medications.
“We don’t think this is the last deal we will see in the sector,” said Nawan Butt, portfolio manager of the Medical Cannabis and Wellness UCITS ETF UK:CBDX.
ASX pot stocks have been skyrocketing in December
Rhys Brock | December 14, 2020 10:21am |
More on: Image Source: Getty Images
Marijuana companies – or “pot stocks” to those who prefer brevity – were all the rage back in late 2017 and early 2018.
California, America’s most populous state and the fifth largest economy in the world, was legalising the recreational use of cannabis, and Canada had announced it would be doing the same. A new, potential multi-billion-dollar global industry in recreational cannabis was basically being invented overnight.
But jump forward a couple of years and the winds have gone out of the sales of most pot stocks. Take
Switzer Daily
15 December 2020
Last week, Creso Pharma Limited’s (ASX: CPH; FRA: 1X8) wholly-owned Canadian cannabis cultivation subsidiary, Mernova Medicinal Inc. received three purchase orders with a combined value of C$275,023 (A$288,159).
These new purchase orders
are part of a trend this year, which has seen CPH
generate more consistent revenue through product demand, whilst substantially
trimming operating costs.
The first of the new
purchase orders was
valued at C$232,826 (A$243,841) and came from Truro Cannabis Company, a
licensed producer of medical and recreational cannabis products.
The Truro order is a bulk order for three of
Mernova’s high quality, indoor grown, hand trimmed, hang dried, cured,