Shares in Creso Pharma have jumped nearly 18 per cent after the cannabis-derived nutraceutical products maker signed an agreement to sell its products in Brazil.
Creso and Sin Solution will work on the commercialisation in Brazil of Creso's various Swiss Vitamin nutraceutical products as well as its cannabinoid-derived nutraceutical products, targeting the privately insured middle class.
Sin Solution operates an extensive commercial network in Brazil and Latin America, with access to more than 350,000 health professionals and 200,000 direct patient contacts in the region.
"Working with Sin Solution gives us access to further key commercial partners in the region and allows us to tap into a vast and fast-growing market, supporting the long-term growth of our business," Creso chief executive Miriam Halperin Wernli said.
Creso expects first sales of its products in Brazil in the second half of 2018, followed by sales in other Latin American markets.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
The news lifted shares in the company to another record high, gaining 12.5 cents, or 17.9 per cent, to 82.5 cents.
Creso listed on the ASX in October 2016 at 20 cents a share, and has seen its market value quadruple in six months following a health registration in the European Union and approval to sell its products in the Czech Republic.
