Jan 07, Colombo: Australia headquartered medical cannabis company, Creso Pharma Limited announced that will expand into Sri Lanka with its therapeutic products.
The company announced that it has signed a binding Letter of Intent with Ceyoka Health (Pvt) Ltd, one of Sri Lanka's foremost pharmaceutical distribution companies, to geographically expand the distribution of its innovative therapeutic medicinal cannabis products into Sri Lanka.
The partnership will initially focus on gaining the necessary regulatory acceptance for Creso's flag-ship medicinal cannabis product, cannAFFORD® 50, to be sold as a therapeutic product in Sri Lanka via approved channels, the company said in a media release.
cannAFFORD®50 is Creso's proprietary buccally formulated cannabidiol lozenge which is designed to support the management of chronic pain.
The partnership will look to explore a wide range of other joint initiatives firmly focused on innovative therapeutic and medicinal products containing hemp extracts which can help to improve the lives of patients.
Dr. Miri Halperin Wernli, Creso Pharma's CEO and co-founder said the company excited to partner with Ceyoka Health on the expansion of its business into Sri Lanka.
"We are really excited to partner with Ceyoka Health on the expansion of our business into Sri Lanka," Wernli said.
"In addition to their broad distribution network which accesses over 1,800 pharmacies, this is a company which is heavily focused on investing in innovation. With Ceyoka, we found an ideal fit with Creso's own philosophy and we anticipate a very long and successful collaboration."
Mr. S. Premakumar Weyhenage, Ceyoka Health's CEO said, "We're delighted to partner with Creso Pharma, a truly innovative company with a great vision for the medicinal cannabis industry. We see opportunity for many areas of collaboration with Creso Pharma and look forward to a great partnership."
Creso Pharma develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health.