Creso Pharma Ltd (ASX:CPH) (OTCMKTS:COPHF) (FRA:1X8) has brought the marketing and sales function of cannaQIX® inhouse, taking over from its commercial partner Doetsch Grether in Switzerland, following a growing trend of direct inbound sales enquiries and interest in the product.
By bringing this function inhouse, Creso is able to improve its profit margins for cannaQIX® and can set the stage for further product extensions and new product launches such as cannaDOL® in Switzerland.
Expand profit margins
Creso commercial director Dr Gian Trepp said: “We are implementing phase 3 of Creso’s operational launch plan by bringing the marketing & sales function of our products inhouse.
“While we are thankful of having benefitted from our partnership with Doetsch Grether, our direct sales model will give Creso the opportunity to expand its profit margins as it enters a new phase of growth.”
Distribution in Switzerland
cannaQIX® is listed with key wholesalers reaching more than 2,100 points of sales to consumers, which are pharmacies, pharmacy networks, drugstores, health nutrition shops and bigger retail shops such as Manor.
Creso is now directly supplying all major wholesalers in the country such as Galexis, Amedis and Voigt.
Doetsch Grether partnership
Creso and Doetsch Grether worked in commercial partnership for over three years.
Peak sales at wholesale price level reached over CHF 230,000 in 2019.
Story by ProactiveInvestors
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