Australia’s Creso Pharma Limited (ASX:CPH) says its newly developed hemp teas should be available in international markets in the third quarter of this year.
The company states it has successfully developed and tested its first CBD hemp instant tea in collaboration Switzerland’s Domaco Pharma. The tea is based on its water-soluble anibidiol granules technology, which enables hemp oil free production. The cannaQIX CBD instant hemp tea will be initially available in two varieties – a standard type and a “nite” version that as the name suggests is designed to support better sleep.
“We are looking forward to entering new and existing markets with our new cannaQIX® CBD instant hemp teas, as there is an increasing demand for easy to use natural products to help strengthen the immune system, particularly given the challenging healthcare times we are facing,” said Creso Pharma CEO and Co-Founder, Dr. Miri Halperin Wernli.
As to which markets will be first to see it on shelves, that wasn’t mentioned.
In other recent news from the company, early this month Creso announced it had signed a commercial term sheet agreement with Farmagon to enter the Scandinavian market (Norway, Denmark, Sweden and Finland) with Creso’s cannaQIX 50 and cannaQIX 10.
We’ve mentioned these products in the past – CannaQIX 50 and 10 are lozenge products containing a cannabidiol (CBD) formulation (50mg/10mg of CBD respectively), plus vitamins B6, B12, C and zinc. A “nutraceutical” product line, CannaQIX aims to reduce stress, support psychological and nervous functions and the management of chronic pain.
Founded in 2016 and ASX listed in October that year, Creso was the first to import medicinal cannabis into Australia. While headquartered in Australia, cultivation and manufacturing occurs in Canada, Latin America and the EU. It’s primarily focused on the EU market at the moment, and sees this as paving the way towards launches in other markets of interest, including Australia. The company has four divisions – therapeutics, nutraceuticals, animal health and cosmetics.