Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has doubled down on Asian markets after agreeing to expand its product range with Singapore-based distribution group Gotro Global.
Thanks to the deal, which expands the pharmaceutical stock’s footprint in Asia, Creso Pharma’s entire Green Goo animal care range is now stocked online through Gotro’s partner company, Happy Town Pets.
In a bid to further boost product visibility, a company-owned direct-to-consumer eCommerce channel is in development, slated to launch later this year.
Creso Pharma believes establishing a presence in Asia is fundamental to revenue growth, with several initiatives teed up to support the company’s expansion in this critical target market.
Expanding footprint in South Korea
In other news, Creso is also boosting its product reach in South Korea, where leading pet food provider Providence Animal Health Korea has agreed to distribute the Green Goo line alongside the Creso Pharma Switzerland animal care products.
The move comes after an early-stage A$217,400 purchase order for Creso’s anibidiol® product suite, underscoring confidence in consumer interest.
Creso is finalising product registration in Korea to support the Green Goo Animal First Aid range, with other products shortlisted for registration in the coming months.
Targeting sales growth in 2023
Creso Pharma CEO and managing director William Lay said the company’s latest initiatives reflected its momentum in the core Asian markets.
“The expanded distribution partnership in Singapore and South Korea provides Creso Pharma with a unique operating platform to drive further sales growth in 2023, with plenty of additional upside through pending product registrations and the recent launch of Sierra Sage Herbs product line into the Taiwanese animal healthcare market,” he stated.
“We look forward to providing additional updates on growth across the Asia markets over the coming months.”