Australia's Creso Pharma jumps on deal with S.Korea-based co

Melodiol Global Health

12/07/2022 01:45

** Shares of cannabis products maker Creso Pharma  CPH.AX 
jump as much as 5% to A$0.042, set for their best day since July
7 
    ** Says it has signed a non-binding letter of intent with
Seoul-based Providence Animal Health Korea  urn:newsml:reuters.com:*:nFWN2YS47E
    ** Says LOI is to work towards registration and
commercialisation of co's anibidiol products, a supplement for
pets made from hemp, in South Korea
    ** Co expects commercialisation of anibidiol range in South
Korea to start in Q1 CY2023
    ** Stock has fallen 51.2% this year, as of last close

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))