Innocan Pharma Announces 5,000 Units Sale and Expansion to Lithuania, Latvia & Estonia Markets

Innocan Pharma Corporation has entered into of a wide-scope commercial distribution agreement with UAB Medexy.

 

Per the multi-year agreement, UAB Medexy has an exclusive right to distribute both Innocan's SHIR and RELIEF&GO brands in Lithuania, Latvia & Estonia, based on an agreed purchase forecast.

 

UAB Medexy's first order under the agreement is for over 5,000 units of SHIR and RELIEF&GO products.

UAB Medexy has a reputation as a key Eastern European player in the import and distribution of cosmetic products and medical devices. It has been highly active in the Lithuanian dermo-cosmetics market for the past 17 years, positioning it as one of the major players in its industry.

 

The CBD skin care market is estimated to reach $10.3 billion by 2028, according to the CBD skin care market Global Sales Analysis Report 2028 by Future Market Insights. Innocan Pharma and SHIR/ RELIEF&GO will now be stepping-up to become market leaders in many European countries. 

 

Said Iris Bincovich, CEO of InnoCan, “We are humbled to have a leading European market leader such as UAB Medexy as our market-partner in Lithuania, Latvia & Estonia. This new business will complement both Innocan's exponential growth strategy and UAB Medexy Health and Beauty market strategy.”