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Shares in Creso Pharma Limited (ASX: CPH; FRA: 1X8) suffered a rift last week as the company unveiled a number of promising developments that will have a material impact on its bottom line.
The most recent of these occurred today when Creso Pharma announced to the market that three new orders (POs) totaling 277. 000 CHF (Swiss Francs – 414. 000 AUD) for its Anibidiol® line of animal health products.
With the new orders, the total orders generated by Creso Pharma’s animal health segment for 2020 will be increased to approx. 975. 000 AUD (634. 000 CHF), which underscores the strong demand for the company’s industry-leading products.
Current orders are expected to be shipped to commercial partners in Europe in the coming weeks, and the partners will then market the products more widely to consumers.
These orders are a significant achievement for Creso Pharma and underscore management’s ability to meet stringent regulatory requirements for commercializing hemp products across Europe and its ability to drive growth initiatives in challenging market conditions.
The demand for the products remains high and these additional orders are further confirmation of the success of the Anibidiol® product line in the fast growing European animal health market.
Importantly, management said initiatives to expand the product portfolio to increase the footprint in the animal health sector are ongoing.
Creso continues to review plans to expand its animal health portfolio with additional innovative products such as various hemp flour and hemp seed oil products.
As the demand for existing products grows, management is also developing strategies to improve its presence in the industry.
Given the recent regulatory changes, Creso Pharma sees rapid growth in the European Union and global markets and is extremely well positioned to benefit from it.
In this context, a recent development that Creso Pharma launched on Monday should be taken into account.
On 19. November 2020 the Court of Justice of the European Union (ECJ) ruled that the member states may not prohibit the marketing of lawfully produced CBD.
Furthermore, the ECJ ruled that CBD is not considered a narcotic and therefore CBD can be freely sold in the European Union (EU). .
This decision could bring significant benefits to Creso Pharma, especially given that the company already has trade agreements in the region.
Jorge Wernli, Commercial Director of Creso Pharma, discussed the group’s animal health business and the prospects for further expansion: “These orders are an important achievement for the company in this challenging regulatory environment and COVID era.
‘’ They underscore the demand we are seeing across Europe for our innovative products and confirm the company’s strategy of investing in the animal health business.
“We assume that the animal health segment will continue to grow. Further orders are expected in the coming months.
Management is also exploring a number of ways to further enter the market and we believe we are well positioned to take a number of initiatives to expand our presence in this space. ”
With this outlook in mind, as well as the upcoming regulatory changes in Australia that should require TGA approval for over-the-counter (OTC) sales of CBD products, it’s easy to identify a number of short-term stock price catalysts that could be the latest price momentum from Maintain Creso Pharma.
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Creso Pharma, ASX: CPH, product, pharmaceutical industry, FRA: 1X8
World news – AU – Creso rises by 50% in a week, further catalysts are imminent
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