Anibidiol 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.
Creso has developed and will manufacture the product and Virbac will launch, market and promote it to veterinarians and pet owners.
Virbac is headquartered in France and is one of the top 10 veterinary pharmaceutical companies in the world.
Creso and Virbac had signed an agreement in September 2017, which will remain in effect for at least 3 years, in Switzerland and Lichtenstein.
Creso’s anibidiol®1.25 and anibidiol® 2.5 are designed for companion animals such as dogs and cats and come in proprietary granule formulations.
Anibidiol promotes the well-being of the animal by supporting its immunity and natural defence system. The product also supports the pet’s balanced behaviour.
The recession-resistant worldwide animal health market is valued at circa US$30 billion.
It is worth noting that 41% of pet owners have considered or tried various alternative therapies including nutritional supplements (29%) and herbal remedies (7%).
Creso’s share price increased circa 45% during the past one month, last closing at $0.80.