Danish Medical Cannabis operator Stenocare is Expanding its Product Range
Danish medical cannabis operator Stenocare informed investors this week that due to ‘stronger than expected sales performance’ in Australia, it was now expanding its product range in the region. After launching its Balanced 12.5 – 12.5 oil product in Australia in the second half of 2022, the company now says it has signed agreements to launch a second, stronger balanced oil in the first quarter of 2024. With the second product now coming online, Stenocare says Australia ‘has real potential to become the second-best-performing’ market in 2024, with sales targets of DKK15m. “We are constantly seeking ways to scale our business and have been pleasantly surprised by the sales performance of the first Stenocare oil product in Australia,” CEO of Stenocare, Thomas Skovlund Schnegelsberg, said. “Recognising opportunities across various segments of the market, we see the natural next step as launching the new Balanced 25-25 oil product. This allows us to cater to more categories of patients.”
Danish medical cannabis company Stenocare expands product range in Australia
- Stenocare is launching a new Balanced 25-25 oil product in Australia in the first quarter of 2024.
- The company says Australia has “real potential to become the second-best-performing” market in 2024, with sales targets of DKK15 million.
- CEO Thomas Skovlund Schnegelsberg said: “We are constantly seeking ways to scale our business and have been pleasantly surprised by the sales perfmance of the first Stenocare oil product in Australia.
- “Recognising opportunities across various segments of the market, we see the natural next step as launching the new Balanced 25-25 oil product. This allows us to cater to more categories of patients.”
Additional details:
- The company launched its Balanced 12.5 – 12.5 oil product in Australia in the second half of 2022.
- The new Balanced 25-25 oil product is expected to be available to patients in Australia from Q1-24.
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