Creso Pharma launches hemp-based product for swine, enters the lucrative livestock market
Health & Biotech
Health & Biotech
The launching of an Anibidiol product for pigs today has expanded Creso’s product range and gives the company access into the lucrative livestock market.
Global medicinal cannabis company, Creso Pharma (ASX:CPH), is about to enter the livestock market, after finalising the development of its new hemp flour-based Anibidiol swine product.
The innovative hemp flour and oat bran-based feed product has been designed to reduce the stress levels and improve the wellbeing of pigs, reared both indoors and outdoors.
This new development marks another step in Creso’s strategic portfolio expansion, and provides it with an entry point into the lucrative livestock market.
The new Anibidiol swine product was developed particularly to address tail biting in pig herds, a common reaction to pigs who are feeling stress, discomfort, or boredom.
Tail biting, which results in lesions, is a problem in the livestock market, as it can decrease the value of the animal at slaughter.
The severities in tail biting vary, from light manipulation to physical harm which causes infection and sometimes leads to amputation.
Previous studies using hemp plants in pigs implied a reduction in stress levels of the swine, with cases of tail biting being reduced.
Following that study, Creso has been developing Anibidiol swine since March 2020, following concerns expressed by farmers. The new product announced today will address those concerns.
Creso will now begin marketing the product to farmers and breeders through its established partners and distributors in the animal health space.
The initial focus will be on Europe and Latin American markets, where first sales are expected during the second half of this year.
Vets, livestock feed shops, and online shops will be the initial customer targets for the company.
The entrance into the livestock market today has expanded the company’s animal product range beyond its existing reach in home pets.
The livestock market is a particularly lucrative opportunity, with the swine feed market projected to grow to US$148 billion by 2027, based on a population of over 150m pigs in Europe and 67 million pigs in Latin America.
“We anticipate that the launch will provide access into another lucrative vertical for the company, and contribute to our growing revenue streams,” commented Creso’s commercial and development director, Dr Gian Trepp.
Apart from the animal health market, Creso is also developing products in other segments including medicinal cannabis therapeutics, nutraceuticals, and cosmetics.
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.