Categories: Marijuana News

Creso Pharma Expands Into Sri Lanka, Selling CBD Lozenge

Australian cannabis producer Creso Pharma (ASX: CPH) has expanded into the Sri Lankan market by signing a binding letter of intent with distributor Ceyoka Health.

The first step will be obtaining the necessary regulatory approval for its flagship product, cannAFFORD 50, to be sold as a therapeutic medicine. Then it will work on rolling out hemp-based products across the country via the network of pharmacies that Ceyoka Health serves.

Sri Lanka has a population of 22 million and a GDP of $87 billion, so it represents a potentially lucrative market for global marijuana firms.

Sri Lanka has a population of 22 million and a GDP of $87 billion, so it represents a potentially lucrative market for global marijuana firms. Cannabis plays an important role in the culture of the island, where it is used to treat a range of conditions and to heighten sexual energy.

There are an estimated 600,000 cannabis users in the country and medicinal marijuana is legal at pharmacies that hold a license from the Ministry of Health. There is some domestic cultivation, but it also relies on imports and Creso Pharma is aiming to establish itself as a leading light in the country.

Ceyoka Health is one of the leading pharmaceutical distribution companies in Sri Lanka, with a distribution network of more than 1,800 pharmacies. Creso Pharma and Ceyoka Health plan to work together on a number of joint initiatives to provide Sri Lankans with hemp-based products.

Subscribe Now
Sign up to get Grizzle's latest news and analysis in your inbox!

Sending Message...


“In addition to their broad distribution network, this is a company which is heavily focused on investing in innovation,” said Dr. Miri Halperin Wernli, Creso Pharma’s chief executive and co-founder. “With Ceyoka, we found an ideal fit with Creso’s own philosophy and we anticipate a very long and successful collaboration.”

The main product they will initially focus on is cannAFFORD 50, a CBD lozenge designed to treat chronic pain. It is designed to dissolve in the mouth, ensuring it works faster than tablets or capsules as the active ingredients enter the bloodstream directly, without having to travel through the liver first.

Creso Pharma is based in Barangaroo, New South Wales, and it also has an office in Switzerland, where cannAFFORD 50 is produced. It was the first company to import cannabis into Australia and it recently entered the Canadian market by acquiring Mernova, a Nova Scotia-based medicinal cannabis growing operation.

The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.

Subscribe Now
Sign up to get Grizzle's latest news and analysis in your inbox!

Sending Message...


Martin Green

Martin Green is an experienced journalist with a strong focus on the cannabis, alcohol, and gambling industries. He is particularly interested in the political issues affecting the global marijuana trade, and he has a keen focus on regulation changes and legal topics. He holds a BA English Literature, MA Creative Writing and a National Qualification in Journalism diploma. He has worked in journalism since 2009 and written for a broad range of newspapers, business titles and magazines, including The Sun, The Metro, The Journal, Livestrong, Drinks Retailing News, Harpers, Sportsbook Review, Vital Football, Essex Live and Surrey Live.

Disqus Comments Loading...
Share
Published by