Creso Pharma experiencing strong demand for pet-health cannabis products
Health & Biotech
Health & Biotech
Special Report: Creso Pharma (ASX:CPH) says it has filled two more purchase orders for its anibidiol animal health products, confirming the success of the product line in the rapidly growing European and Latin American animal health market.
Creso Pharma says the purchase orders total $345,249 and bring the total purchase order of anibidiol products to be delivered in the first quarter to $759,249.
“We are very pleased with the PO development from current and new customers,” says Creso Pharma commercial director Dr Gian Trepp.
“Our capabilities to supply the products in spite of the current very challenging COVID situation in a fast and flexible way is a key success factor. These capabilities and the newly enlarged product portfolio place Creso in a favourable position to respond best to the fast growing demand and benefit from new animal health opportunities to grow its footprint in this space.”
Since 2017, Creso has filled purchase orders for over 4 million anibidiol doses, and the company is exploring plans to expand its animal health portfolio with products such as hemp-flour and hemp seed oil products.
Anibidiol 8 is designed to support the immune system and natural response of cats and dogs. It contains a mix of hemp oil, vitamins and Omega fatty acids.
Creso in December received three new purchase orders totalling $414,000 for its anibidiol products in Europe, demonstrating the strong demand for the company’s animal health products.
The company has also recently been busy supplying cannaQIX CBD lozenges to its South African partner, Pharma Dynamics, which has plans to expand distribution to Namibia, Botswana, Zimbabwe, Swaziland, Lesotho, Angola, Mozambique and Uganda.
Meanwhile, Creso’s wholly-owned Canadian subsidiary, Mernova Medicinal, has received more purchase orders for strains of its high-quality artisanal cannabis and expects to be selling into Canada’s biggest recreational market shortly.
Mernova in December received three purchase orders for a total value of $C275,023 ($288,159), as well as a Notice to Purchase order from the Province of Ontario, regarded as Canada’s biggest recreational market with a quarter of the country’s market share.
This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.