Creso Pharma signs exclusive agreement with Virbac
Published on: | by Zoe Gross
Creso Pharma Limited (ASX:CPH) has signed an exclusive commercialisation agreement with Virbac Switzerland, a global pharmaceutical animal health company, for the launch of its first original hemp-based complementary animal feed products in Switzerland.
The Swiss launch of CPH’s proprietary formulated hemp-based complementary feed products for companion animals, anibidiol® 1.25 and anibidiol® 2.5, is planned for the fourth quarter of this year.
CPH has developed and will manufacture the products, and Virbac will launch, market and promote them to veterinarians and pet-owning households.
This announcement comes on the back of the registration of hemp extract on the European Feeds Material Register earlier this year.
Importantly, a successful launch in Switzerland, which is regarded as a regulatory and marketing reference country for many countries in Europe, Latin America and Asia Pacific, will enable CPH to expand into further international markets.
The agreement starts from 1st of September, and remains in effect for at least three years.
CPH’s commercialisation debut in animal health
CPH is a leader in medicinal cannabis and cannabidiol (CBD) innovation, and develops cannabis and hemp-derived therapeutic-grade CBD nutraceuticals and medicinal cannabis products across both human and animal health sectors.
The company has had a busy year thus far: it recently signed an exclusive deal with the renowned Swiss-based Cannapharm, and has also acquired 100% of the Canadian Mernova Medicinal Inc., a deal which positions it as a Canadian producer of legal cannabis.
And with the exclusive commercialisation agreement it’s now signed with Virbac Switzerland, CPH is gaining a high-impact partner.
Virbac is a global pharmaceutical animal health company with a presence in over 100 countries, and ranks as the 7th largest pharmaceutical veterinary company worldwide. It has more than 4,800 employees and sales subsidiaries across 31 countries, and in 2016 had a turnover of €872 million (AU$1.29BN).
This partnership would enable CPH to leverage Virbac’s strong worldwide presence and science-grounded experience in marketing products for companion animals.
The Swiss launch of the Anibidiol® range will also provide the veterinary market with a unique product targeting the well-being of companion animals, and will be in high demand, making this collaboration highly advantageous for both parties.
CPH’s Anibidiol® product range
Anibidiol® 1.25 and anibidiol® 2.5 are designed for companion animals, particularly cats and dogs, and come in proprietary granule formulations. The products target stress and behavioural problems, chronic pain, and age-related ailments in older animals.
Containing full plant hemp extract in proprietary formulations, these products promote well-being by supporting the immune system, the natural response, and the behavioural balance of the companion animal.
CPH’s anibidiol® products are standardised in composition and dose and in innovative proprietary delivery systems, enhancing bioavailability and absorption.
In July, the Swiss agency, Agroscope, a sub-department in the Swiss Federal Department of Economic Affairs, Education and Research (RAER) responsible for safe feed in and trade from Switzerland, provided confirmation of CPH’s adherence to Swiss feed regulations and issued Free Sales Certificates for the anibidiol® product range.
There is a clear market for non-pharmaceutical therapeutic approaches which are natural and well-tolerated by the animals – for instance, which avoid GI and dependence side-effects.
41% of pet owners have considered or tried various alternative therapies including nutritional supplements (29%) and herbal remedies (7%).
Around 57% of households across the globe are pet-owning, and 33% have dogs. This recession-resistant worldwide animal health market is estimated to be worth US$30 billion and is projected to continue rapidly growing.
Tapping into this robust market, CPH is ideally placed for its first market introduction of its hemp-based feed products in the fourth quarter of this year.