Any Sri Lankan that requires the use of medicinal cannabis (marijuana) products for health or therapeutic reasons will be able to buy it from local pharmacies, with the drug poised to launch its debut in the local market soon.
Medicinal cannabis manufacturer Creso Pharma Limited (CHP) has inked a binding letter of intent with leading Sri Lankan pharmaceutical distributor Ceyoka Health to expand its medicinal cannabis products into the island nation recently, the company announced.
The partnership will initially obtain the necessary regulatory acceptance from local authorities for Creso’s cannAFFORD-50, a CBD lozenge designed to treat chronic pain, before marketing other joint initiatives in the medicinal cannabis field.
The partners have also agreed to establish a comprehensive New Zealand-based cannabis business in the island to explore local research and development activity, domestic cultivation, extraction and product development for meeting domestic and international demand.
It will explore a wide range of other joint initiatives focusing on innovative therapeutic and medicinal products containing hemp extracts.
This product has been developed according to good manufacturing practice standards and is produced in Switzerland by Creso’s partner Swiss-based food and pharma development company, Domaco to the highest Swiss quality with a “Swiss Made” label.
There are an estimated 600,000 cannabis users in the country and medicinal marijuana is legal at pharmacies that hold a license from the Ministry of Health.
There is some domestic cultivation, but it also relies on imports and Creso Pharma is aiming to establish itself as a leading light in the country, foreign news agencies highlighted.
Ceyoka Health is one of the leading pharmaceutical distribution companies in Sri Lanka, with a distribution network of more than 1,800 pharmacies. Creso Pharma and Ceyoka Health plan to work together on a number of joint initiatives to provide Sri Lankans with hemp-based products.