Cannabis and hemp supplier Creso Pharma (ASX: CPH) has updated the market with sales statistics showing that its anibidiol hemp oil products have benefited over 100,000 dogs with the rising “humanisation of pets” trend supporting demand for the company’s products, according to the company’s co-founder Dr Miri Halperin Wernli.
According to Creso, its Swiss-made anibidiol “granulated delivery system” has experienced 700% sales growth in 2019, made in collaboration with French vet pharma company Virbac.
In what it calls a milestone achievement, Creso has sold over 3 million portion sachets of anibidiol granules since 2017, used as complementary feed to help mitigate stress and improve wellbeing in dogs.
Creso currently sells anibidiol ‘regular’ and ‘plus’ variants, commercialised for small, medium-sized and large pets to support stress reduction and soothe animals’ nervous systems.
The company claims that pet owners using its products have provided positive feedback and citing reports that anibidiol has contributed to the management of pain and improved pet vitality.
Growing product base
In a bid to create increasingly popular products that appeal to a health-conscious addressable market, Creso is utilising hemp and reports that it has completed development of three additional hemp-derived products, expected to launch later this year.
The new product launch will come hot on the heels of a flurry of new hemp-driven offerings.
Alongside Virbac, Creso recently launched its new anibidiol Oil 500 product in Switzerland as a lifecycle management enhancement for the existing anibidiol range, responding to strong demand from veterinaries and pet owners.
The two companies have said that they expect to commence sales in Switzerland and then to expand into other countries over the course of this year.
In October last year, Creso delivered the first orders of its medicinal 10% cannabidiol oil to New Zealand-based JC Logistics, its second product to make it to the country.
Furthermore, in December, Creso commenced Australian sales of its flagship medicinal cannabis product cannaQIX 50 in partnership with Burleigh Heads Cannabis.
“We are proud to see anibidiol achieve this milestone, proving that pets and pet owners have an increasing appreciation of its benefits,” said Dr Miri Halperin Wernli, chief executive officer and co-founder of Creso Pharma.
“This achievement is paving the way for launches into additional countries on other continents such as North and Latin America, where we observe a growing need for natural complementary feed to help mitigate stress and improve the wellbeing of pets,” said Ms Wernli.
This morning’s news helped to lift Creso Pharma shares by over 10% up to $0.21 per share.