Creso Pharma has signed a distribution agreement with nutritional supplements company Route2 Pharm for the distribution of its cannaQix 10, Cannaqix 50 and CannaDOL product lines in Pakistan, the Philippines and other emerging markets.
The agreement follows a landmark decision by the Pakistan Government allowing the country to enter the cannabidiol market. Pakistan has a population of more than 216 million people and a wide range of unmet needs.
Other potential target markets for Creso include Cambodia, Afghanistan, Azerbaijan, Bangladesh, Georgia, the Maldives, Myanmar, Tajikistan, Turkmenistan, Uzbekistan, and Vietnam, taking the potential addressable market to 750 million people
The agreement is for a three-year term with minimum order quantities of up to A$2.48 million stipulated for the first year. In the event that the minimum order quantities are not achieved, Creso will have the right to terminate the arrangement.
Creso Pharma non-executive chairman Adam Blumenthal said: “This agreement has the potential to take Creso into markets with a combined population of over 750 million people. Our mission is to deliver access to affordable, high-quality, broad-spectrum, GMP products for the betterment of people’s lives everywhere.”