Creso shakes paws with global animal health pharma to extend its vet product distribution
Health & Biotech
Health & Biotech
Special Report: Creso Pharma has inked a deal with a major animal health pharmaceutical to expand the distribution of its CBD-based pet complementary feed products
The company (ASX:CPH) told investors today it has signed an agreement with Virbac to commercialise and distribute its range of anibidiol® products into 15 additional markets, following successful launches in Switzerland and Liechtenstein.
It also announced two newly-formulated products to the range – anibidiol® Regular and anibidiol® Plus – to the Swiss market.
Anibidiol® includes a range of natural complementary feed products for pets which contains a full spectrum of hemp extract including CBD (or cannabidiol) as well as hemp seed oil.
CBD is one of the active ingredients found in hemp. It has well-researched medicinal benefits — but unlike another cannabinoid, tetrahydrocannabinol (THC), it doesn’t get you (or your pet) high.
Virbac is one of the world’s largest pharmaceutical veterinary companies.
It has a presence in over 100 countries and offers veterinarians, farmers and pet owners a wide range of products and services.
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.
A perfect opportunity
The deal will enable Creso to tap into the ‘great interest’ it says it has seen from veterinarians and pet owners.
Its estimated that around 33 per cent of dog owners and 20 per cent of cat owners use supplements for their pets.
Creso co-founder and CEO Dr Miri Halperin Wernli says the agreement positions both companies to capture greater share of massive global animal healthcare market – which was valued at US$35.9 billion in 2017.
“Our experience in the market shows our veterinary products respond to a real need and have a positive effect on behavior in pets. In particular, senior dogs and cats benefit enormously as they are more likely to develop behavioral issues due to a combination of health issues and natural ageing issues including muscle and organ degeneration.”
“This new agreement with Virbac sets a sound foundation for Creso Pharma to progress further into the international market.”
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.
Creso Pharma is a Stockhead advertiser.