Creso hits new milestones: 3 million anibidiol® hemp oil pet doses given, books 700pc sales growth
Health & Biotech
Health & Biotech
Link copied to
Special Report: Creso Pharma has not only surged through critical milestones but also produced some strong quarterly revenue growth.
An estimated 100,000 dogs have benefited from Creso Pharma‘s (ASX:CPH) anibidiol® hemp oil complementary feed products, as the company celebrates global sales growth of 700 per cent year on year.
This equates to sales of over 3 million sachet doses of anibidiol® granules since it was launched in 2017.
Creso CEO and co-founder Dr Miri Halperin Wernli said hitting the estimated 100,000 dog milestone paved the way for launches into new countries in other continents such as North and Latin America.
“We observe a growing need for natural complementary feed in these regions to help mitigate stress and improve the wellbeing of pets,” she said.
“Creso Pharma hopes to continue leveraging the rising global trend of the ‘humanisation’ of pets, in which people treat their pets as best friends or family members.
“We are proud to see anibidiol® achieve this milestone, proving that pets and pet owners have an increasing appreciation of its benefits.”
Creso developed anibidiol® Regular and anibidiol® Plus for small, medium-sized and large pets to support the reduction of stress and help the well functioning of the nervous system of the animals.
Pet owners have reported to the company that anibidiol® has also contributed to the management of pain and improved the vitality of their pets after one week of use.
Creso has commercialised the patented granulated delivery system in partnership with the global animal health company Virbac S.A., and it’s being introduced in 10 countries in Europe.
Riding off that success, the company has just announced the launch of a new product – anibidiol® Oil 500.
Launched with partner Virbac Switzerland and in response to strong demand from vets and pet owners, anibidiol® Oil 500 is one of Creso’s life cycle management products for pets.
The product will first be marketed in Switzerland and be extended to further countries throughout the year.
Furthermore, Creso plans to launch two newly developed hemp-derived pet health products in 2020.
Creso is moving into 2020 off a strong December quarter, when unaudited consolidated group revenues grew strongly to reach $1.986m for the quarter.
Revenue for the 2019 calendar year hit $3.7m.
Strong growth in revenues was largely attributable to nutraceutical and animal health product sales during the quarter, worth $1.6m.
Those divisions brought in $2.8m for the year, an increase of almost 500 per cent on the $556,000 made in 2018.
“The Q4 revenue shows strong growth in market acceptance for Creso Pharma products and successful penetration of new markets,” Halperin Wernli said.
“Creso Pharma has an expanding portfolio of innovative products and a leadership team with vast experience in the pharmaceutical industry.
“The company’s products are now sold across Europe and Oceania and will soon be available in South Africa.”
Creso had a number of operational achievements in the quarter as well, delivering its first orders of medicinal 10% CBD oil in New Zealand, starting sales in Australia of its flagship medicinal cannabis product cannaQIX® 50, and getting very close to securing EU GMP certification for its 24,000sqft Mernova production facility in Canada to enable exports to Europe.
The company is preparing to launch the cannaQIX® range in South Africa in April.
The next step for the partnership with pharmaceutical company Pharma Dynamics, a leading South African Pharma company, is to push the commercialisation of Creso’s products into additional African countries Angola, Botswana, Lesotho, Namibia, Mozambique, Swaziland, Uganda and Zimbabwe.
Creso already has four products on the market and has nine new products ready to launch.