AUSTRALIAN MEDICINAL CANNABIS GROUP LAUNCHES ANIMAL HEALTH PRODUCT IN SWITZERLAND

AUSTRALIAN MEDICINAL CANNABIS GROUP LAUNCHES ANIMAL HEALTH PRODUCT IN SWITZERLAND

CRESO Pharma Limited (ASX: CPH) will launch its original hemp-based animal feed products in Switzerland.

The Australian based Creso has signed an exclusive commercialisation agreement with Virbac Switzerland to distribute its hemp-based complementary feed products for pets in Switzerland and Liechtenstein.

Virbac, the seventh largest pharmaceutical veterinary company worldwide, will launch, market, and promote Creso's product to veterinarians and pet owners from 1 September, 2017.

The hemp-based pet food is designed for dogs and cats, and helps with stress and behavioural problems, chronic pain, and age-related ailments in old animals.

Creso hopes a successful launch in Switzerland will allow the group to continue expansion overseas in 2018 to tap into the huge global pet food market.

"We are delighted to partner with the innovative global leading pharmaceutical animal health company Virbac to start the commercialisation of Creso's animal health products," says Creso Pharma CEO and co-founder Dr Miri Halperin Wernli.

"We believe that this partnership will lead to substantial synergies and we are looking very much forward to benefit from Virbac's worldwide presence and science-based experience in marketing such products."

Worldwide, the animal health market is estimated to be worth nearly $40 billion, and over half of the global population has a companion animal of some kind.

The products contain full plant hemp extract, and adhere to Swiss feed regulations.

Following this morning's announcement, shares in Creso Pharma have risen by over six per cent to $0.51.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

How communications technology can raise the bar on customer service, employee experience
Partner Content
From capturing feedback early to providing messages with a higher rate of cut-through, ...
Advertisement

Related Stories

Fashion-tech startup Citizen Wolf uses data to tailor tees, alleviate landfill

Fashion-tech startup Citizen Wolf uses data to tailor tees, alleviate landfill

As a consequence of our addiction to fast fashion, Australia sends ...

Apollo to divest large share of motorhome fleet to get Tourism Holdings merger over the line

Apollo to divest large share of motorhome fleet to get Tourism Holdings merger over the line

In an effort to appease Australian and New Zealand regulator concer...

Dexus awards John Holland building contract in $2.1b Waterfront Brisbane project

Dexus awards John Holland building contract in $2.1b Waterfront Brisbane project

After securing an $830 million contract from Dexus (ASX: DXS), Melb...

QLD to launch Star Entertainment review in July as former judge appointed to probe casino operator

QLD to launch Star Entertainment review in July as former judge appointed to probe casino operator

Casino operations that account for more than half of The Star Enter...