Subsidiary of Lupin signs agreement with Creso

Lupin Limited announced that its subsidiary in South Africa ‘Pharma Dynamics’ has signed a Commercial Agreement with Creso Pharma (Creso) for the hemp oil based cannaQIX. Creso has bestowed Pharma Dynamics with sole distribution rights of its organic, broad spectrum hemp oil nutraceutical, cannaQIX 10, across South Africa, Namibia, Botswana, Zimbabwe, Swaziland, Lesotho, Angola, Mozambique and Uganda.

The cannaQIX range of products are cannabidiol (CBD) hemp oil-based nutraceuticals, which contain full spectrum organic hemp oil extracts with CBD, vitamins and zinc, aiming to reduce stress and to support mental and nervous functions. Cannabidiol is one of many identified cannabinoids in cannabis plants and has been linked to improved anxiety, pain management, movement therapy and cognition.

The products are sugar free and contain no Tetrahydrocannabinol (THC) – the principal psychoactive constituent of cannabis.

The cannaQIX range has been developed per Good Manufacturing Practice  (GMP) standards and is produced in Switzerland by Creso’s partner, Swiss-based food and pharma development company, Domaco, Dr. Med Aufdermaur AG (Domaco) to the highest Swissquality with a “Swiss Made” label.

Pharma Dynamics hopes that the products will be available at leading retail pharmacies by the year end. CannaQIX 10 is available without a prescription and comes in packs of 24 lozenges.

On Monday, the stock of Lupin closed at Rs. 747.30, up by 1.21 per cent. During the session, it made intra-day high and low of Rs. 757.05 and Rs. 735.60 respectively.