Creso makes European market debut with commercial launch of first animal product
Creso Pharma (ASX:CPH) has clinched a major milestone with the commercial launch of its first animal health product in Switzerland and Lichtenstein.
CPH has launched its anibidiol® product in partnership with Virbac (EPA:VIRP), a global pharmaceutical animal health company with a considerable presence in over 100 countries.
This move is CPH’s debut into the European market, with many more products expected to follow.
This Swiss approved hemp product is a natural complementary feed for companion animals, containing a standardised amount of hemp extract with cannabidiol (CBD), the non-psychoactive substance of the hemp plant, and is THC free – the first of its kind.
Importantly, anibidiol® is now available to Swiss veterinarians through CPH and Virbac’s partnership.
Anibidiol® promotes the well-being of the companion animal in question by supporting its immunity and natural defence system, also contributing to the pet’s balanced behaviour.
The product contains natural full plant hemp extract, as well as hemp seed oil. This proprietary combination of CBD, the fatty acids Omega 3, Omega 6 and Omega 9, terpenes, flavonoids, and other active herbal ingredients, have a complex interaction which enhances their overall health-promoting effect.
The anibidiol® product range addresses a need for natural, non-pharmaceutical therapeutic approaches which are well-tolerated by animals. The CBD it contains does not cause GI and dependency side-effects, and has an excellent safety and tolerability profile.
There’s also a clearly receptive demographic for a product of this kind, considering that 41 percent of pet owners have considered or tried various alternative therapies, including nutritional supplements (29%) and herbal remedies (7%).
However, the size of the market share CPH can secure remains to be seen at this stage, so if considering this stock for your portfolio do your own research and seek professional financial advice.
The individually packed portions contain a granulate formulation, which is mixed once a day with the pet’s food.
In order to guarantee professional advice, anibidiol® is marketed in Switzerland exclusively by Virbac and only through veterinary practices.
Anibidiol® was developed by CPH, produced in Switzerland by CPH’s partner, Swiss-based food and pharma development company, Domaco, Dr. med Aufdermaur AG (Domaco), and is marketed exclusively in Switzerland by Virbac (Switzerland) AG, Glattbrugg ZH.
Headquartered in Zurich-Glattbrugg, Virbac has an extensive market reach, with more than 4,800 employees and sales subsidiaries across 31 countries. Its wide range of vaccines and medicines are used in the prevention and treatment of the main pathologies for companion and food-producing animals.
With a turnover of €872 million in 2016, Virbac is the seventh largest pharmaceutical veterinary company worldwide, making it a highly salient partner for CPH as it follows through on its animal health strategy in Europe and beyond.
CPH is entering a fertile market with razor-sharp timing. The recession‐resistant global animal health market is estimated to be US$30 billion (A$39.4 billion), and is projected to continue growing at a rapid rate.
CPH CEO and co-founder, Dr. Miri Halperin Wernli, said: “We are very excited to launch anibidiol® in Switzerland and thrilled to be working in partnership with Virbac, such a well-established global company in the animal health field.”
“This is the first introduction of our hemp-based complementary feed products for companion animals in the veterinary market,” she said. “It is a particularly significant launch for us as it is Creso’s first product launch in Europe and we intend to follow it with many more.”
“We look forward to working with Virbac to successfully promote, market and launch further quality hemp-based animal health products.”