CS MEDICA Closes the Year with New Strong Partners
CS MEDICA A/S (“CS MEDICA” or the” Company”) announces that the Company will close the year with a revenue of 10,6M DKK delivered with well-known partners within the industry. Alliance Healthcare Romania, part of the Alliance Healthcare, one of the largest wholesalers in Europe, will market the Cannasen® brand and all SKUs. Whereas, the Spanish Aldo-Union will bring the unique formulas and products in their own brand to patients in Spain.
Lone Henriksen, CEO CS MEDICA, comments
“We are happy to announce that CS MEDICA is closing the year with 10,6M DKK in revenue, and we are proud of the strong partnerships we have developed in the last months. We have moved from being an R&D to a commercialized company, now listed in most pharmacies in DK, on Amazon, and we have signed with distributors in Israel, Hong Kong, Slovenia, Croatia, and Serbia to market our Cannasen® brand. The latest distribution partner we have teamed up with is Alliance Healthcare Romania, part of the Alliance Healthcare, one of the largest wholesalers in Europe, supplying more than 115,000 pharmacies, doctors, and health centers in 13 countries. This order includes our full Cannasen® portfolio incl. the new Wound Gel.”
Lone Henriksen, CEO CS MEDICA, continues
“We also see the interest in white labels grows rapidly, helping us penetrate the markets with our unique CBD technology. For example, we have extended the portfolio with Alsitan in Germany. For our latest partnership, we have signed a significant agreement with the well-known Spanish company Aldo-Union, another important player in the industry which wants to utilize our first mover formulas with their brand in several countries”.
The revenue growth of 331% versus last year delivers a solid base for the further pipeline. The remaining approx. 1,4M DKK to reach the target of 12M DKK is covered by two contracts not yet signed, as the final registration details are still pending. These will be closed in the coming quarter.
Lone Henriksen, CEO CS MEDICA, comments
“The process for teaming up with new partners takes 6+ months, depending on the region and the legislation window. And with the product lead time increasing due to resource challenges, we acknowledge we must build a larger pipeline on both sales and stock. Hence, we found a strong partner, one of the four major wholesalers in the Dutch market, with an understanding of the pharmaceutical marketplace. We see this as an opportunity to accelerate our roll-out, testing different channels and marketing initiatives. In addition, it will help us create a distribution hub closer to our productions, Amazon fulfillment, and other partners as we’re looking into minimizing freight and shipping miles. We believe this can open the doors for the markets faster in Europe.”
As a biotech company offering unique CBD technology, white labels, and finished branded OTC products with high efficacy, CS MEDICA looks forward to moving into a new fiscal year with a more robust base and core market learnings to reach new businesses and goals going forward.
CS MEDICA will invite to investor call when year-end details are in place and communicated. Information will be shared at a later stage.
This disclosure contains information that CS MEDICA A/S is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 10-10-2022 16:24 CET.
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.