Creso signs agreement to bring new CBD product to NZ as first step in APAC expansion
This latest development follows the successful launch of cannaQIX 10 in Switzerland and Lichtenstein.
According to Creso, cannaQIX 50 presents a novel way for doctors to help their patients manage chronic pain (among other conditions), especially in APAC, where sales of CBD products are expected to rise.
CEO and co-founder Dr Miri Halperin Wernli said in a statement: "For Creso, New Zealand is an important market as it forms part of its overall APAC strategy, a region where projections suggest 23% of the worldwide spend on CBD products will take place by 2022."
The proprietary cannaQIX 50, designed to support chronic pain management, comes in packs of 30 lozenges. Each lozenge contains 50mg of CBD from full-spectrum hemp plant extracts, as well as zinc, niacin, and vitamins B6, B12 and C, all in a standardised pharmaceutical-grade formulation produced in Switzerland.
The lozenge dissolves in the mouth and is absorbed directly into the bloodstream via the oral mucosa, meaning its active ingredients are supposed to work faster and more efficiently than those in capsules or tablets, which face a higher risk of being broken down by the intestine and liver.
Legislative lag?
The UN estimates that 13.4% of adults in New Zealand resort to black-market cannabis for both medical and recreational purposes, and the country's Ministry of Health has recommended that as many as 235,000 people use cannabis medicinally.
CB Distributors' MD and founder Courtney Letica said, "This is a premium, pharma-grade product which is uniquely patient friendly. (It) offers patients and prescribers increased choice, and with the pending changes in New Zealand regulations, we hope to see many patients referred to this novel product.
"CB Distributors is focused on working with health regulators and prescribing physicians to improve patient access to the highest quality, legal cannabis-based products."
Presently, CBD is a class B1 controlled drug in New Zealand. Since last year, all medical practitioners have been permitted to prescribe CBD products due to slightly looser regulations.
Legislators are in talks to remove CBD's controlled drug status, a move that will likely encourage more prescriptions and a surge in sales.
cannaQIX 50 is part of Creso's cannaQIX range, which is produced in Switzerland by Creso's partner, Swiss-based food and pharmaceutical development firm Domaco, Dr. med Aufdermaur AG (Domaco).
The range has so far met Good Manufacturing Practice (GMP) standards, and includes cannaQIX 50's predecessor, cannaQIX 10, which Creso claimed was the "first and unique standardised nutraceutical containing organic CBD hemp extract, vitamins and zinc" meant to reduce stress and support psychological function.
In March this year, Creso's successful launch of cannaQIX 10 in Switzerland and Lichtenstein led the firm to announce that the revenue it had made would act as "the gateway for global commercialisation".
