--The below is a company-sponsored announcement--
The decision will go a long way to helping
The TGA's decision recommends that CBD products be down-scheduled from schedule 4 and classified as schedule 3 medicines in
This would allow Australian consumers to purchase CBD products over-the-counter (OTC) through pharmacies without the requirement of a prescription.
The decision follows recommendations from the
The interim decision will follow a consultation period with a final decision to be reached by
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
The products contain broad-spectrum organic hemp oil extracts with CBD and they are pitched at reducing stress and supporting mental and nervous functions.
"The down scheduling of CBD products in
"We anticipate that the Australian market will play an important role in the company's growth trajectory and will grow significantly as CBD becomes more accepted and entrenched with consumers.
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"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."
The cannaQIX® range of products has several features that set them aside from other competing products, being sugar-free and containing no tetrahydrocannabinol (THC).
The standardised, user-friendly strength and formulation allows precise dosage control and the lozenges have a more palatable taste compared to oils.
The cannaQIX® range has been developed to Good Manufacturing Practice standards and is produced in
The presence of a ''Swiss Made'' label emphasises the premium quality control measures that define
Earlier today the corporate announcement above was publicly released. FNArena is acting as a partner in distribution to broaden the reach. No journalists have been involved in the re-publication of this announcement.
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