Lupin’s South African Arm Inks Commercial Pact With Creso Pharma
An employee operates machinery to arrange Duloxetine delayed-release capsules for packaging inside the packaging unit at the Lupin Ltd. pharmaceutical plant in Salcette, Goa, India (Photographer: Dhiraj Singh/Bloomberg)

Lupin’s South African Arm Inks Commercial Pact With Creso Pharma

Listen to Article

Lupin Ltd. on Monday said its South African-arm Pharma Dynamics has signed a commercial agreement with Creso Pharma for hemp oil-based cannaQIX products.

As per the agreement, Creso has given Pharma Dynamics sole distribution rights of its products across South Africa, Namibia, Botswana, Zimbabwe, Swaziland, Lesotho, Angola, Mozambique and Uganda, Lupin said in a statement.

“We hope that this agreement will form the foundation of a longstanding relationship as we grow our footprint from nutraceuticals into the scheduled market as well,” Pharma Dynamics chief Executive Officer Erik Roos said.

Creso Pharma is globally recognised as a leader in the production of cannabis products with distribution agreements already in place in various countries in Europe and Asia-Pacific, he added.

“We are encouraged to see a wide range of opportunities opening up to bring premium hemp oil nutraceutical products to customers in South Africa,” Creso Pharma CEO and co-founder Miri Halperin Wernli said.

The cannaQIX range of products are cannabidiol hemp oil-based nutraceuticals that are used for reducing stress and to support mental and nervous functions.

Shares of Lupin Ltd. closed at Rs 747.30 per scrip on the BSE, up 1.21 percent from its previous close.

Also read: Lupin Gets U.S. FDA Approval For Skin Cream

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.