Australia’s Creso Pharma Limited (ASX:CPH) announced last week the expansion of a distribution agreement that will see its products available in Ecuador.
In February this year, Creso Pharma inked an agreement with Pakistan-based Route2 Pharm Pvt Ltd involving distribution of Creso’s hemp-derived cannaQIX and cannaDOL in Pakistan, Afghanistan, Azerbaijan, Bangladesh, Cambodia, Georgia, the Maldives, Myanmar, the Philippines, Tajikistan, Turkmenistan, Uzbekistan, and Vietnam.
Both product lines contain cannabidiol (CBD), with cannaQIX consisting of ingestible products (teas and lozenges) and cannaDOL a topical skin care gel.
Ecuador is now included under the recently announced expanded agreement, providing Creso Pharma access to the Latin American CBD market that is growing rapidly.
“Ecuador provides a large market opportunity for Creso Pharma as it recently passed legislation to approve the production, commercialisation, use and consumption of cannabis for medicinal or therapeutic treatment,” states the company.
Cannabis containing less than 1% THC for medical purposes was legalized by Eucador’s National Assembly in September 2019 by an 83 to 23 vote. Last year, hemp was excluded from the country’s list of controlled substances under the Comprehensive Organic Criminal Code (COIP).
Ecuador has a population of around 17.4 million.
In other recent cannabis related news from the company, as well as preparations for humans in the nutraceutical, therapeutics and cosmetics space, Creso Pharma also produces animal health related formulations.
The firm announced last month the development of a complementary feedstock product for swine – a hemp flour and oat bran. It says the product was developed to lower stress and discomfort in pig herds and reduce the incidence of tail biting, which as well as being very painful and distressing for the animals involved can also negatively impact on prices achieved at market.
Creso Pharma will begin marketing the product to farmers and breeders initially in European and Latin American markets in the second half of this year through its established distributors and partners.
The product, anibidiol swine, is part of Creso’s anibidiol lineup for animals that up to this point have been focused on pets (cats and dogs) and horses.