Creso Pharma Limited (ASX:CPH) (OTCMKTS:COPHF) (FRA:1X8) has signed a commercial agreement with DHS Business Portugal to introduce Creso’s CBD products into Portuguese and Spanish markets.
The companies are working on introducing the products in Spain and Portugal in the first quarter of 2021 and this will expand Creso’s presence in Europe.
Among the key products to be launched will be Creso’s cannaDOL® CBD topical gels and cannaQIX oral care Swiss Made.
Creso commercial director Jorge Wernli said: “We are very much looking forward to entering the Portuguese and Spanish markets with our Creso topical and oral care products.
"These markets are very attractive supporting us for further expansion into Latin America.”
Shares have been as much as 14% higher to 4.5 cents intra-day.
Focus on sports population
Together with DHS Business, Creso plans to focus on cannaDOL® 0.5% and 1% CBD topical gels to support the improvement of mobility.
These products target not only the sports population but also those with diminished mobility due to rheumatoid arthritis and arthrosis.
In addition, Creso will also consider introducing cannaQIX® oral care which targets stress reduction and offers oral care management.
Creso and DHS Business are targeting to cover sports shops and pharmacies offering more than 2,000 points of sales in Portugal and in excess of 4,000 points of sales in Spain.
The initial focus will be on the major cities in Portugal - Lisbon, Sintra and Porto - with a population of more than 4.5 million people.
In Spain, the focus will be in Madrid, Barcelona, Valencia and Sevilla with a population of more than 6.2 million.
Creso and DHS Business are targeting the sports working and ageing population, which represents around 50% or 3.8 million of the total population.
Terms of agreement
Under the agreement, DHS Business will be paid an industry-standard commission on the sales of Creso products.
No other fees were paid, or are payable, to any other party in relation to the agreement.
The agreement has an indefinite term, but maybe terminated by 30 days notice by either party or forthwith for material breach
DHS Business active in healthcare
DHS has been active in the healthcare markets since 1991. It has been involved in strategic consulting and commercialisation operations in Brazil, Latin America, USA, Africa (Angola, Mozambique) and Portugal.
DHS is a global solution provider for companies in the health and wellness market.
It provides planning, management, product registration, distributor prospecting and selection, forecasting, trade negotiations, and operational support for Brazilian and international businesses.