Creso Pharma Announced the Company Has Brought the Sales and Marketing of CannaQIX Inhouse, in a Move Designed to Unlock Further Sales Growth in Switzerland and Improved Profit Margins on the Product
CPH Stock is Currently Experiencing Very Bullish Price Action and is Showing Signs of a Likely Breakout Rising +23.26% Today on a Sharp Increase in Trading Volume
Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) announced on Monday that the company has brought the sales and marketing of its cannaQIX product inhouse. In response to a growing trend of direct inbound cannaQIX sales enquiries, Creso is officially taking over the reins from its Swiss commercial partner Doetsch Grether.
The move is expected to help accelerate cannaQIX sales growth and increase profit margins on the product.
Per the company’s website: “cannaQIX® is the first and unique standardized nutraceutical containing hemp oil, vitamins and zinc aiming to reduce stress and to support psychological and nervous functions.”
Listed with many key wholesalers, including pharmacies, pharmacy networks, drugstores, health nutrition shops and large retail stores such as Manor, cannaQIX reaches consumers at a total of 2,100 points of sale. Also, Creso is now directly supplying all of Switzerland’s major wholesalers, such as Galexis, Amedis and Voigt.
“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,” commented Dr. Gian Trepp, Creso Pharma’s Commercial Director.
The three-year commercial partnership between Doetsch Grether and Creso Pharma achieved peak wholesale price sales of over CHF 230,000 in 2019.
By bringing the cannaQIX sales and marketing function inhouse, Creso Pharma will be able to improve its profit margin on the product substantially. The move will also set the stage for Creso to extend existing product lines and launch new products such as cannaDOL® in Switzerland.
CPH Stock Price Action & Chart
Shares of Creso Pharma’s ASX listed CPH stock is currently experiencing very bullish price action and is showing signs of a likely breakout from the previously reported Bull Pennant chart formation. Shares of CPH are changing hands at $0.265 per share, up +23.26% today on a sharp increase in trading volume.
Creso’s American listed COPHF stock has seen its liquidity increase dramatically over the past week, with shares trading as high as $0.38 today. Look for the price action and liquidity on COPHF stock to continue strengthening as the Creso Pharma story spreads throughout the United States.
Across the Atlantic in Germany, the company’s Frankfurt listed shares traded +10.19% higher today closing the trading session at $0.173 per share.
Per Investopedia: “In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole.”
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