ASX-listed MGC Pharmaceuticals has taken another stride in commercialising its line of cannabis-based nutraceuticals by signing a distribution deal with major Chinese e-commerce import platform YuShop Global.
Perth-based MGC Pharma said on Tuesday the marketing and distribution deal would see its Cannabidiol, or “CBD”, and hemp-enhanced products sold on YuShop’s online platform and via its network of 1,500 retail channel partners in China, including a luxury spa chain.
The deal means MGC Pharma’s nutraceutical product line, including its CBD Hemp Protein Powder, BCAA CBD capsules, CBD Water Soluble Solution and CBD Herbal V-Pen marketed to millions of Chinese consumers in the rapidly growing health product market.
For MGC Pharma, the deal is a launchpad to access an increasingly health-conscious market, with over 350 million middle-class Chinese vitamin and supplements consumers who are expected to purchase over USD$20b worth of vitamins and supplements in 2020.
An added plus of the