Creso Pharma's LOI For Import Of Swiss MDMA And Psilocybin Therapeutics To Australia
Portfolio Pulse from Lara Goldstein
Creso Pharma (OTC:COPHF) signed a Letter of Intent (LOI) with Swiss pharmacy Apotheke Dr. Hysek AG for an exclusive partnership to import and distribute licensed MDMA and psilocybin products into Australia. The partnership follows Australia's new legal framework for psychedelic-assisted therapies, and Creso Pharma will provide import infrastructure through its subsidiary Health House International (HHI).
June 09, 2023 | 6:27 pm
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POSITIVE IMPACT
Creso Pharma's LOI with Apotheke Dr. Hysek AG for importing and distributing licensed MDMA and psilocybin products in Australia could expand its market presence and revenue.
The LOI with Apotheke Dr. Hysek AG allows Creso Pharma to import and distribute licensed MDMA and psilocybin products in Australia, following the country's new legal framework for psychedelic-assisted therapies. This partnership could expand Creso Pharma's market presence and increase its revenue in the Australian market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
MindMed (NASDAQ:MNMD) is indirectly involved in the partnership between Creso Pharma and Apotheke Dr. Hysek AG, as it backs several studies led by Dr. Matthias Liechti, who works closely with Dr. Cedric Hysek.
MindMed is not directly involved in the partnership between Creso Pharma and Apotheke Dr. Hysek AG. However, it supports several studies led by Dr. Matthias Liechti, who works closely with Dr. Cedric Hysek. The partnership's impact on MindMed's stock price is uncertain, as it is only indirectly related to the deal.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50