Creso eyes global pet food market with CBD-based supplements
Health & Biotech
Health & Biotech
Link copied to
Creso is setting its course for global expansion after its successful launch of CBD-based pet food in the Swiss market.
CBD (or cannabidiol) is one of the active ingredients found in cannabis. It has well-researched medicinal benefits — but unlike another cannabinoid, tetrahydrocannabinol (THC), it doesn’t get you high.
Creso launched the new product range — known as anibidiol — in Switzerland last November with animal pharmaceutical giant Virbac. It’s already generated early revenue.
After positive feedback from customers and vets, Creso is now looking to take the product to the global companion animal market – which it says is worth $12.9 billion.
Creso shares (ASX:CPH) opened 3 per cent higher on the news Monday morning, trading at 83c.
The anibidiol product is a natural complementary feed for pets which contains a full spectrum of hemp extract including CBD as well as hemp seed oil. It complements other natural sources of Omega 3, 6 and 9 and other active herbal ingredients.
It has two granular formulations for small dogs under 10kg and those above — which are mixed into food for everyday use.
The product fills a void for natural, non-pharmaceutical therapeutic approaches which are well-tolerated by animals.
“This promising start with anibidiol in Switzerland sets a very sound foundation for Creso Pharma to progress into the international market arena,” Creso chief Dr Miri Halperin Wernli told the market.
Figures cited by the company suggest 41 per cent of pet owners have considered or tried various alternative therapies including nutritional supplements (29 per cent) and herbal remedies (7 per cent).
As well as launching in new territories, the company is in the process of expanding its anibidiol range with more products for pets.
This special report is brought to you by Creso Pharma.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.
If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a Product Disclosure Statement (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.