On December 17th, STENOCARE announced that the company has received approval for a new product in Denmark, CBD100, which has a high concentration of CBD active ingredients (100 mg/ml). This makes STENOCARE the only supplier to offer a CBD100 oil product in Denmark.
With the CBD100 oil product added to the portfolio, STENOCARE’s portfolio consists of four products approved for sales in Denmark, including a lighter CBD-oil, a THC-oil and a balanced oil, which solidifies the company’s position as a leading supplier in the country, which recently formally agreed on permanent legalization of medical cannabis.
The new product, CBD100, has a higher concentration of CBD, which targets patients who need higher dosages in its treatment. CBD can be used as a treatment for a range of symptoms, including chronic pain, anxiety, stress, and nausea experienced by cancer patients during treatments, thereby addressing several significant and widespread symptoms affecting numerous patients. The new CBD oil provides doctors in Denmark with an additional option for treating these symptoms, as STENOCARE becomes the sole supplier of medical cannabis oil products with such a high concentration of CBD, which, according to Analyst Group, constitutes a competitive advantage.
STENOCARE has a strong track record of getting products approved in several markets, both highly regulated and markets with lower barriers to entry, which the approval of the CBD100 oil product further solidifies. This is expected to be beneficial in the company’s new strategy, aiming to be a leading trading company for medical cannabis products with broad range of products to reach more patients and hence deliver growth in sales.
In summary, we view positively on the news of the approved CBD100 oil product, as it further solidifies STENOCARE’s position as a leading supplier in Denmark and provides an additional option for doctors and patients in Denmark, as this is the only medical cannabis oil product with this concentration of CBD, which is seen as a competitive advantage.
