Creso Pharma (ASX:CPH) has signed a commercial agreement with Brazil-based Sin Solution as part of its expansion into the Latin American market.
The company says Sin Solution is a business in Brazil with an extensive commercial network – specialising in the market-access, sale and distribution services of health care products in Brazil and across Latin America.
Under this deal, Creso Pharma’s Swiss Vitamin premium nutraceutical and medical cannabis products will be marketed, sold and distributed in Brazil – targeting the privately insured middle class population of 60 million people.
According to the company, this potential market is worth more than $US800 million. Creso expects to its first sales in Brazil to happen in the second half of the 2018 financial year, followed quickly by sales in other Central and Latin American markets.
This morning, Creso Pharma shares are tracking 18.6% higher at 83 cents.