Creso Pharma Targets Multi-Billion Dollar Pet Industry -- CFN Media

Global consumers spend billions of dollars on their pets each year, according to GfK, with two-thirds of sales taking place in the United States and Europe. In the U.S. alone, the American Pet Products Association reckons that consumers spent more than $72 billion on their pets in 2018, including about $30 billion on food, $15 billion on supplies and over-the-counter medicine, and $20 billion on veterinary care.

Cannabidiol, or CBD products, have become especially popular as an over-the-counter medicine, and an alternative to prescription medication for pets. While studies in humans have dominated the headlines, an overwhelming number of reports from veterinarians and pet owners have shown that CBD promotes well-being, balances behavior, and reduces tiredness and fatigue. It's a natural way to help keep pets well-adjusted and ensure their comfort in old age.

First Mover Advantage

There are many companies that have developed CBD products for pets, but many of them have experienced problems. In the United States, the U.S. Food and Drug Administration sent warning letters to several manufacturers regarding product labeling and promises. The same agency sent warning letters to other human-focused CBD product manufacturers, saying that some of their products didn't contain as much CBD as promised on the label.

Creso Pharma's anibidiol(R) is the first Swiss complementary feed for companion animals that contains natural full spectrum hemp oil with CBD. The company's two products, anibidiol(R) 2.5 and anibidiol(R) 8, are already generating revenue across the European Union. With the company's focus on Swiss quality, the products have already started to generate a strong reputation across Europe that could translate into sales in other markets down the road.

In addition to CBD, anibidiol(R) contains vitamins niacin and B6, fatty acids Omega 3, 6, and 9, terpenes, flavonoids, and other herbal active ingredients. The product is THC-free (non-detectable) with no reported side-effects, which means that consumers don't have to worry about harmful or unintended side-effects.

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Expansion Beyond Animals

Creso Animal Health is just one of its five businesses focusing on different areas of the cannabis industry, which include therapeutics, nutraceuticals, topicals, and lifestyle products. By bringing pharmaceutical rigor to the cannabis industry, the company aims to manufacture the highest-quality products for both humans and animals through its R&D base in Switzerland and cultivation facilities in Canada and Colombia.

The company's Mernova Medicinal Inc. subsidiary is a 24,000 sq. ft. purpose-built facility in Canada with initial sales in the country starting next quarter. In 2019, the company plans to build out a GMP compliant, pharmaceutical-grade edible production facility to prepare for the country's upcoming legalization of edible products. Its other cultivation facilities are located in Colombia and Israel - where it's pursuing a joint venture.

Along with its cannabis production footprint, the company has developed a wide range of delivery systems for cannabinoids. The company's focus is on buccal and topical products, which are designed to significantly improve bioavailability and absorption compared to orally-consumed products which need to go through the stomach and are largely destroyed in the passage. Several products have already been launched throughout Switzerland, Europe, and New Zealand.

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Looking Ahead

Creso Pharma Inc. (ASX: CPH) represents a unique opportunity to invest across a broad range of cannabinoid delivery methods and end markets. With its CBD-based animal health products, the company has developed an early edge in Europe that it could exploit to capitalize on the $70+ billion global animal health market. The company's potential is further underscored by its diverse human product lines spanning key European countries.

For more information, visit the company's website. https://www.cresopharma.com/for-investors/^[3]

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References

1. ^{^} https://promo.cfnmedia.com/cresopharma (promo.cfnmedia.com)
2. ^{^} https://promo.cfnmedia.com/cresopharma (promo.cfnmedia.com)
3. ^{^} https://www.cresopharma.com/for-investors/ (www.cresopharma.com)
4. ^{^} https://www.cannabisfn.com/?p=2182833&preview=true (www.cannabisfn.com)
5. ^{^} http://www.cannabisfn.com/featuredcompany (www.cannabisfn.com)
6. ^{^} https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8 (itunes.apple.com)
7. ^{^} http://www.cannabisfn.com (www.cannabisfn.com)
8. ^{^} http://www.cannabisfn.com (www.cannabisfn.com)
9. ^{^} http://www.cannabisfn.com/legal-disclaimer/ (www.cannabisfn.com)
10. ^{^} [email protected] (www.acnnewswire.com)
11. ^{^} Daily Finance (www.acnnewswire.com)
12. ^{^} BioTech (www.acnnewswire.com)
13. ^{^} HealthCare (www.acnnewswire.com)
14. ^{^} Alternatives (www.acnnewswire.com)
15. ^{^} Local (www.acnnewswire.com)
16. ^{^} Local Business (www.acnnewswire.com)