Business concept, objectives and strategies
As a responsible company, we put our stakeholders first and aim to ensure sustainable growth of our group, as well as its environment. Thus, our goals are inclusive and future oriented. At this point, CS MEDICA is in the build stage of growth and takes strategic thrust of diversification by development of new products for new markets.
Our financial objective is to create and increased value for our shareholders in the long term.
Our economic objective is to increase market size for products with cannabis attributes. At the same time, we aim to create stable and constant growth of our revenue.
Our compliance objective is to monitor and follow the existing local and cross-border regulations in all our processes.
Our innovation objective is to bring improvement of our products and processes to ensure the highest possible levels of efficacy and safety, at the same time make the best possible use of resources.
Our social objective is to make our treatment products easily available to patients around the globe, rising their general standard of living. Considering the societal and economic costs related to conditions such as psoriasis or arthritis, we see effective treatment development as a mean to general welfare of the society.
Our internal-stakeholder oriented objective is to provide healthy, motivating, rewarding and secure work positions for our employees.
To achieve the above objectives, the company uptakes the below described strategies.
Ensuring efficiency and safety through compliance and testing is seen as a key point of CS MEDICA strategy and a source of competitive advantage.
We ensure effectiveness and safety profile of our products. One of the company’s main competitive advantages, in terms of products, is the Medical Device classification. The two products under the brand CANNASEN® are both classified as MD class I and are expected to be upgraded into a class IIa under MDR.
Except of ongoing preclinical trials performed in India as a part of Medical Device registration, the company has a localized EU-oriented strategy, which consists of partnering together with key opinion leaders, such as local psoriasis and arthritis organizations. Thus, the next step in our strategy is to perform local EU-based post marketing clinical trials. Except of re-ensuring product quality and efficacy, this tactic is key to stimulate brand growth through stronger word of mouth, brand recognition and trustworthiness. As a part of CS MEDICA’s business strategies, we have several ongoing clinical trials.
Customer education strategy
To increase market size for our products and create a stable and constant growth of our revenue, we engage in customer education. As a pioneer of cannabinoid market, we stepped into a role where we actively provide relevant information and research data regarding cannabinoids and their properties to the wide public. Anyone can access the Company’s database where we share the latest research and documentation with regards to clinical trials, tests and literature review within the use of cannabinoids.
We apply customer education both to our B2B and to our B2C customers. The education of the former is supposed to ensure quality of product handling as well as to empower our customers to efficiently reach theirs and our business targets. Meanwhile, the education of the latter is supposed to stimulate market expansion.
Considering the broad healing properties of cannabinoids, our products can answer the needs of patients in multiple markets. For the time being we are targeting psoriasis, arthritis, insomnia, wound healing, immune support and hair loss. However, we constantly research and develop new products, which would answer the need for pain relief and immune system modulation. On top of that, we will soon target the skin care and animal health market.
Source of competitive advantage
In terms of products, the company focuses on differentiating itself from the competition by producing registered Medical Devices with cannabinoids. In the future, the company will maintain this advantage by constant R&D and cautious conformity to market regulations.
Considering that the strategy is firmly based on quality provision, testing and regulatory conformity, the risk incurred by following the above strategy is considered to be relatively low.