Medicinal cannabis producer Creso Pharma (ASX:CPH) has signed an exclusive commercial agreement with a Swiss pharmaceutical company for the marketing and distribution of its hemp-based food supplement product in Switzerland.
The agreement with the Swiss pharmacy, Doetsch Grether, gives Creso access to 2,300 outlets in Switzerland and Lichtenstein in Europe, setting up global commercialisation for Creso.
The hemp-based cannaQIX10 product which is designed to provide stress and anxiety relief, will be sold as a food supplement, compliant with Swiss Federal food law.
The agreement will see marketing and distribution of the product over 10 years.
The Swiss pharmacy’s CEO said there is strong demand for safe and reliable hemp-derived products in the Swiss market.
Shares in Creso Pharma (ASX:CPH) are trading 0.49 per cent higher to $1.02.