Creso Pharma (ASX:CPH) has signed an agreement with Virbac, a global pharmaceutical animal health company, to launch its hemp‐based complementary animal feed products in Switzerland.
Creso has developed and will manufacture the products and Virbac will launch, market and promote the products to veterinarians and pet owners.
The agreement starts from 1 September, 2017 and remains in effect for at least 3 years, in Switzerland and Lichtenstein.
Virbac is a pharmaceutical animal health company with a presence in over 100 countries and ranks as the 7th largest pharmaceutical veterinary company worldwide.
Creso is innovating in the development, manufacturing and commercialisation of nutraceutical products for human and animal health using hemp‐based, full‐plant extracts.
The company’s anibidiol®1.25 and anibidiol® 2.5 are designed for companion animals such as dogs and cats and come in proprietary granule formulations.
They address stress and behavioural problems, chronic pain (mainly arthritis), and age‐related ailments in ageing animals.
The anibidiol® product range address the need of non‐pharmaceutical therapeutic approaches which are natural and well tolerated by the animals.
The recession‐resistant worldwide animal health market is estimated to be worth US$30bn and is projected to continue to show rapid growth.
Around 57% of households own a pet, and 33% own a dog.
Interestingly, 41% of pet owners have considered or tried various alternative therapies including nutritional supplements (29%) and herbal remedies (7%).