The two companies will collaborate on research and development as well as the distribution of hemp- and cannabis-based nutraceutical, cosmetics and body care products across China.
Creso Pharma has entered into China’s $39.6 billion health food market by signing a deal with a local hemp producer, and is hinting at even more opportunities to expand.
The Australian medical cannabis company has signed a commercial partnership with China’s Zhejiang Kingdom Creative, which will purchase and import its animal and human health hemp- and cannabis-derived products into the local market.
Kingdom Creative, which is primarily a hemp- and flax-based linen production company, will also build a health food, nutraceuticals, body care and cosmetic company, allowing Creso further access and scale in China.
Under the move, the two companies will collaborate on research and development as well as the distribution of hemp- and cannabis-based nutraceutical, cosmetics and body care products across China.
The company is also in advanced discussions with other Asian pharmaceutical and cosmetic groups to make its products available to Asian consumers and patients.
