Abacus Health Products Inc (OTC: ABAHF), a provider of CBD-based pharmaceutical products, appeared at the Benzinga Cannabis Capital Conference in Chicago in October.
Jonathan Conforti, Abacus’ vice president of corporate development, told attendees were told how the family of Abacus products is helping scale sustainability, trust and uniformity in the cannabis-based health space.
Abacus’ recent actions are an execution of its mission to use CBD hemp extract as a conduit to deliver effective pain relief products throughout the world.
Abacus Health’s Beginnings
Launched in 2014 by Aidance Scientific, a manufacturer of broad-spectrum antimicrobial technology for dermatological uses, Abacus is an OTC-listed company that distributes products blended with CBD hemp extract to health practitioners under the CBD CLINIC name.
The CBD CLINIC brand caters directly to the consumer and mass retail markets with a range of pain relief and dermatological products.
Recent Developments
On Nov. 21, Abacus announced it received a purchase order from a national pharmacy chain in the United States.
As part of the order, the firm will deliver products from its CBDMEDIC line to 2,400 retail stores in 18 states.
“The addition of this national chain marks an important milestone as our products will now be sold by the three largest retail pharmacy chains in the United States. This is a huge win for Abacus and its consumer product line, CBDMEDIC,” Abacus CEO Perry Antelman said in a statement on the development.
“The recent announcements we’ve made regarding retail store growth are indicative of the inflection point we’ve been waiting for and we expect acceleration in the adoption of our products by the F/D/M channel in the next several quarters.”
CBDMEDIC will now be available in over 34,500 stores, according to Abacus. The company said it will expand its market penetration in coming quarters as it rolls out its product at additional locations.
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