##{"id":88624,"date":"2020-09-10T12:25:28","date_gmt":"2020-09-10T02:25:28","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=88624"},"modified":"2020-09-10T12:25:29","modified_gmt":"2020-09-10T02:25:29","slug":"tga-decision-opens-commercial-cannabis-opportunities-for-creso-pharma","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/09\/10\/tga-decision-opens-commercial-cannabis-opportunities-for-creso-pharma\/","title":{"rendered":"TGA Decision Opens Commercial Cannabis Opportunities For Creso Pharma"},"content":{"rendered":"<p style=\"text-align:center\"><em>&#8211;The below is a company-sponsored announcement&#8211;<\/em><\/p>\n<hr \/>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Article%201.jpeg\" style=\"height:667px;width:1000px\" \/><\/p>\n<p><strong>Australia&rsquo;s cannabis stocks have reacted positively to news of the Therapeutic Goods Administration (TGA) interim decision to paves the way for over the counter cannabidiol (CBD) sales without a prescription at pharmacies.<\/strong><\/p>\n<p>The decision will go a long way to helping Australia&rsquo;s cannabis companies bring their products to market.<\/p>\n<p>Creso Pharma Limited ((CPH)), (FRA: 1X8) is one company to welcome the decision.<\/p>\n<p>The TGA&rsquo;s decision recommends that CBD products be down-scheduled from schedule 4 and classified as schedule 3 medicines in Australia.<\/p>\n<p>This would allow Australian consumers to purchase CBD products over-the-counter (OTC) through pharmacies without the requirement of a prescription.<\/p>\n<p>The decision follows recommendations from the National Advisory Committee on Medicines Scheduling (ACMS) and the Advisory Committee on Chemicals Scheduling (ACCS), with both committees being within Australia&rsquo;s Therapeutic Goods Administration (TGA).<\/p>\n<p>The interim decision will follow a consultation period with a final decision to be reached by 1 February 2021.<\/p>\n<h2>$200 million market in Australia<\/h2>\n<p>This development unlocks a major opportunity for Creso Pharma CBD and hemp products, and management will look to progress a number of opportunities to capitalise on a market which is estimated to be valued at $200 million and set to grow rapidly in the near term.<\/p>\n<p>Creso Pharma&rsquo;s cannaQIX&reg; 50 is alreadty being sold in Australia as a medicinal cannabis product under the &lsquo;LozaCan&rsquo; brand via distribution partner Burleighs Heads Cannabis&rsquo; (BHC).<\/p>\n<p>Creso Pharma has developed various cannabidiol (CBD) hemp oil-based products in their cannaQIX&reg; range using the company&rsquo;s proprietary innovative delivery technology.<\/p>\n<p>The products contain broad-spectrum organic hemp oil extracts with CBD and they are pitched at reducing stress and supporting mental and nervous functions.<\/p>\n<p>&quot;The down scheduling of CBD products in Australia is an exciting development and provides Creso Pharma with a number of key near term opportunities,&rdquo; CPH non-executive chairman Adam Blumenthal said.<\/p>\n<p>&ldquo;We anticipate that the Australian market will play an important role in the company&rsquo;s growth trajectory and will grow significantly as CBD becomes more accepted and entrenched with consumers.<\/p>\n<p>&ldquo;Creso Pharma has a large GMP product range and we are confident that the company&rsquo;s offering will be well received in Australia.&rsquo;<\/p>\n<p>&ldquo;Board and management are currently progressing a number of strategies to grow our market share and we look forward to providing regular updates to shareholders.&rdquo;<\/p>\n<p>Creso Pharma&rsquo;s competitive edge<\/p>\n<p>The cannaQIX&reg; range of products has several features that set them aside from other competing products, being sugar-free and containing no tetrahydrocannabinol (THC).<\/p>\n<p>The standardised, user-friendly strength and formulation allows precise dosage control and the lozenges have a more palatable taste compared to oils.<\/p>\n<p>The cannaQIX&reg; range has been developed to Good Manufacturing Practice standards and is produced in Switzerland by Creso Pharma&rsquo;s partner, Swiss-based food and pharma development company, Domaco, Dr. med Aufdermaur AG.<\/p>\n<p>The presence of a &lsquo;&rsquo;Swiss Made&rsquo;&rsquo; label emphasises the premium quality control measures that define Creso Pharma&rsquo;s products.<\/p>\n<hr \/>\n<p><em>Earlier today the corporate announcement above was publicly released. FNArena is acting as a partner in&nbsp;distribution to broaden the reach. No journalists have been involved in the re-publication of this announcement.<\/em><\/p>\n<p><strong>Technical limitations<\/strong><\/p>\n<p><strong><em>If you are reading this story through a third party distribution channel and you cannot see illustrations included<\/em>, <em>we apologise, but technical limitations are to blame.<\/em><\/strong><\/p>\n<p><em>Find out why FNArena subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n<p><em>FNArena&nbsp;is proud about its track record and past achievements: <a href=\"https:\/\/www.fnarena.com\/index.php\/2018\/10\/03\/rudis-view-ten-years-on-the-world-is-still-turning\/\">Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SPONSORED: Australia&#8217;s cannabis stocks have reacted positively to news of the Therapeutic Goods Administration (TGA) interim decision to paves the way for over the counter cannabidiol (CBD) sales without a prescription at pharmacies<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/88624"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=88624"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/88624\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=88624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=88624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=88624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}