Increasing direct inbound sales enquiries and interest in Creso Pharma's cannaQIX® product has prompted the company to bring its sales inhouse.
Creso Pharma Limited (ASX:CPH) today announced that it will be bringing the marketing and sales function of cannaQIX® inhouse, after receiving a growing number of direct sales enquiries and intrigue regarding the product.
CannaQIX is Creso's proprietary formulated cannabidiol lozenge designed to help minimize chronic pain. Each cannaQIX lozenge contains full-spectrum CBD (CBD with other cannabinoids present) derived from hemp plant extracts, produced out of Switzerland.
The decision to bring their sales and marketing of cannaQix® inhouse brings an end to the commercial partnership between Creso Pharma and Doetsch Grether, who worked together for over three years.
At the peak of their partnership, sales at wholesale price level reached over CHF 230,000 in 2019.
Creso's decision to bring their sales and marketing inhouse will yield significantly larger profit margins for cannaQIX®, as well as laying the groundwork for further product extensions and new product launches such as cannaDOL® in Switzerland.
According to the company's recent press release, "cannaQIX® is listed with key wholesalers reaching over 2,100 point 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."
Creso's Commercial Director Dr. Gian Trepp, commented: "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."
To learn more about Creso Pharma, visit their company HQ here.
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