Creso Pharma has tied up with Cape Town generics distribution company Pharma Dynamics to launch CBD products into the African market. The first product is Cannamics, a new hemp-based Swiss cannabidiol product that is a supplement to ease stress and anxiety.
The Canadian multinational says Africa is an important step in consolidating its global network and will be managed by its Australian operation. It says Pharma Dynamics paid A$300 000 for two initial orders of what it calls its “cannaQIX® product range of CBD hemp oil nutraceuticals”.
Creso has established a foothold in the Pacific after being the first company to import medicinal marijuana into Australia. Creso’s strategy on this side of the Indian Ocean is to first target the South African pharmaceutical market before moving into the rest of southern and east Africa.
Creso Pharma CEO and Co-Founder Dr Miri Halperin Wernli said Pharma Dynamics was the “preferred partner” for Creso in Africa.
“We are delighted to offer a high quality product to customers, with a top quality partner at an affordable price,” she said.
“Affordability” is the key word here, with CBD products on the South African market priced at the top end of the market because they all have to be imported.
Cannamics is available as a pastille in packs of 24 and 48 and it contains 10 mg of CBD per pastille. It retails from R299.
Pharma Dynamics has set itself up to provide “quality, affordable” health care to South Africans and is growing fast on this ticket. It is currently ranked as one of the top 10 generics companies in South Africa claiming an average growth rate of 34% .
Established in 2001 by MD Paul Anley, Pharma Dynamics is a leading provider of cardiovascular medicine to South African pharmacies and its expansion into the CBD space is a logical development. It signed a Commercial Term Sheet with Creso in terms of which it has the sole distribution rights of Creso’s organic, broad spectrum hemp oil nutraceutical, cannaQIX®10, across South Africa, Namibia, Botswana, Zimbabwe, Swaziland, Lesotho, Angola, Mozambique and Uganda.
The cannaQIX® range of products are cannabidiol (CBD) hemp oil-based nutraceuticals, which contain full spectrum organic hemp oil extracts with CBD, vitamins and zinc, aiming to reduce stress and to support mental and nervous functions. Cannabidiol is one of many identified cannabinoids in cannabis plants and has been linked to improved anxiety, pain management, movement therapy and cognition.
The products are sugar free and contain no Tetrahydrocannabinol (THC) – the principal psychoactive constituent of cannabis.
The deal is a continuation of the momentum that Creso has built in global markets in 2019, having already partnered up in UK with PharmaCare and entering Hollands & Boots in July followed by an exclusive distribution agreement in August with the New Zealand-based JC Logistics.
Creso also recently announced the arrival of its first shipment of cannaQIX®50 in Australia, to be sold under the brand name
‘LozaCan’ through its exclusive Australian distributor, Burleigh Heads Cannabis.
The company has global operations in Switzerland and cultivation facilities Nova Scotia Canada.
Nicole Jennings, spokesperson at Pharma Dynamics says they wanted to introduce a top quality CBD product to the local market, at affordable prices.
“Cannamics is made and extracted from the highest quality organically farmed hemp. It is classified as tetrahydrocannabinol (THC)-free and has been developed under the highest standard manufacturing practices.
“Different to some other CBD oils, which may be swallowed and are only partially absorbed, Cannamics is absorbed by the buccal mucosa that lines the insides of the cheeks and mouth floor. This allows CBD to be absorbed directly into the blood stream, as opposed to other orally administered CBD oils or gummies that are quickly broken down into inactive molecules once they pass from the digestive system to the liver circulation.
“The bio-availability of Cannamics is between 15 and 25 %, which is up to four times higher than other oral delivery systems that only produce a 3 to 6 % absorption”.