Creso commences international commercialisation of its animal health products with $350K purchase order
Health & Biotech
Health & Biotech
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Special Report: Creso Pharma receives its first purchase order from one of the world’s largest pharmaceutical veterinary companies.
Creso is making fast tracks in the animal health space, announcing the first purchase order resulting from its recent deal with Virbac.
The $350,000 deal is for the company’s (ASX:CPH) anibidiol® range of natural complementary feed products for pets.
The products contain a full spectrum of hemp extract including CBD (or cannabidiol) as well as hemp seed oil and vitamins.
CBD is one of the active ingredients found in hemp. It has well-researched medicinal benefits — but unlike tetrahydrocannabinol (THC), it doesn’t get you (or your pet) high.
anibidiol® does not contain THC.
Virbac plans to launch, promote and distribute the products in several European countries and in Latin America starting in Q2 2019 and further orders into additional countries are in the works.
Growing partnership and presence
Creso first launched the anibidiol® products with Virbac in Switzerland and Liechtenstein at the end of 2017, and last month, extended the partnership to include 15 additional countries.
The new agreement will see the anibidiol® products distributed across Austria, Belgium, Columbia, Cyprus, Denmark, Finland, France, Germany, Greece, Italy, Luxembourg, Netherlands, Norway, Portugal and Sweden, with plans for further expansion.
Virbac is one of the world’s largest pharmaceutical veterinary companies, with a presence in over 100 countries total.
The partnership positions Creso and Virbac to capture a significant share of the $69 billion annual pet industry.
“We have had a promising start with our animal health products in Switzerland and Liechtenstein with very encouraging feedback from veterinarians, clinics and pet owners and we are now entering the expansion phase into many countries in Europe and Latin America,” said Creso co-founder and CEO Dr Miri Halperin Wernli.
Creso’s anibidiol® products help support pet immune and nervous systems as well as behaviour and manage overall vitality.
Its estimated that around 33 per cent of dog owners and 20 per cent of cat owners use supplements for their pets.
The anibidiol® range has been developed to Good Manufacturing Practice (GMP) standards and is produced by Creso’s Swiss partner DOMACO Dr. med Aufdermaur AG.