Creso Pharma teams with DHS to enter Brazilian retail market with cannabidiol products

Creso Pharma Ltd (ASX:CPH) (FRA:1X8) (OTCMKTS:COPHF) has signed an agreement with DHS to enter the Brazilian retail market with its unique CBD (cannabidiol) products.          The development follows the latest change in policy from the Brazilian National Health Regulatory Authority (ANVISA), which enables the sale of CBD products without THC (tetrahydrocannabinol) to be sold through retail channels in the country. Extensive network DHS offers solutions to companies in the health and wellness space that are seeking expansion in the US, Africa and Portugal as well as Brazil. Creso will seek to leverage DHS’ extensive network and established reputation to drive sales growth in Brazil. Creso CEO and co-founder Dr Miri Halperin Wernli said: “Signing an agreement with DHS so quickly after the ANVISA policy change highlights Creso’s quick thinking and ability to capture opportunity on an international scale. “DHS has extensive experience and strong partnerships throughout Brazil and Latin America more broadly.” “Large opportunity” The CEO said: “These markets have very large populations and provide a large opportunity for the company in the coming months. “We look forward to working with DHS to ensure our products are brought to market as quickly as possible.” Under the agreement, Creso and DHS will offer several CBD products to retailers and consumers, including the CannaQIX® product range, which is produced by GMP facilities and is Swiss made. The parties are targeting 60% of the retail network across Sao Paulo (population: 12 million), Rio de Janeiro (population: 6 million) and Parana (population: 11 million). This would provide Creso with over 4,200 points of sale across three major areas in Brazil. Initially, Creso will target the working and ageing populations in these areas, which provides an estimated target market of 14 million consumers. Retail launch planned in Q4 The agreement considerably strengthens Creso’s global footprint and complements existing operations in Brazil undertaken via the patient name initiative with SIN Solution and SR Group. Creso and DHS will continue to work on implementation plans with the aim to make products available through retailers by the fourth quarter of 2020.