Creso Share Price Up — Launches New Cannabis Drug (ASX:CPH)
Aussie pot stock Creso Pharma Ltd [ASX:CPH] share price is on the up today.
The CPH Share Price is trading 8.89% higher on the news of the launch of Creso’s newest drug, cannaDOL.
It’s the latest development from Creso, who has diversified their product and market offering several times in recent months. Even coming one day after the company announced the completion of its Halucenex takeover.
Which you can read all about in our coverage, right here.
For now, let’s talk about this new drug…
Chasing Swiss sports, health, and wellness
First and foremost, cannaDOL is a new type of cannabis gel. A drug that has been split into two distinctly different products: cannaDOL Boost and cannaDOL Recovery.
As you can probably guess, these two formulations offer different solutions.
Boost is designed to increase the energy of users with a mixture of hemp CBD, caffeine, taurine, vitamins, and minerals.
Recovery on the other hand is meant to soothe the patient. Using the same hemp CBD, vitamins, and minerals — but with added lemon balm and curcumin.
Together, Creso hopes to penetrate the Swiss sport, health, and wellness markets. Utilsing their established wholesaler network in Switzerland to sell these gels across pharmacies, drugstores, and sport/fitness centres.
As Commerical Director, Dr Gian Trepp comments:
‘The recent development of our ecommerce channel and new products formulations is a very pleasing development and we are proud to substantially strengthen our sport products portfolio with cannaDOL Boost and Recovery.
‘Recent initiatives will assist the Company to expand its leading presence in the Swiss and European sports markets, which provide another high yield and low risk opportunity for the Company. Discussions with additional partners and specialty retailers are ongoing and we anticipate that further growth can be achieved across Europe and more broadly.’
For shareholders it’s now a matter of waiting to see just how popular cannaDOL will be.
Because while Creso has plenty of interesting developments, they have yet to really strike gold. But perhaps this new gel could be the breakthrough they need.
What’s next for the Creso Share Price?
Beyond cannaDOL, Creso has a lot going on behind the scenes.
As I mentioned earlier, the finalisation of the Halucenex takeover is a big development. One that has pivoted this local pot stock into the exciting but risky field of psychedelic medicines.
A sector that is rapidly engaging with and experimenting with other illicit drugs for newfound medicinal uses. Something that has attracted a lot of interest from a small subset of biotech firms in Canada, in particular. Which is exactly where Halucenex is based.
So, for investors, there is a lot of exciting potential possibly to come.
It’s simply a matter of waiting and watching for further updates.
In the meantime, if you’re looking for more pot stock ideas, we can help. Our cannabis investment report will tell you all you need to know about this fascinating industry. Not to mention three names of our favourite pot stocks to consider investing in right now.
Get your copy of the full report, for free, right here.
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PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here