Three new purchase orders (POs) for Creso Pharma’s Anibidiol product line worth A$414,000 bring the total generated by its animal health segment to A$975,000 in 2020.
Anibidiol is a complementary feed for companion animals that contains natural hemp oil.
Creso Pharma’s commercial director Jorge Wernli said: “These purchase orders are a major achievement during this challenging regulatory situation and COVID-19 time. They further highlight the demand we are witnessing for our innovative products across Europe and vindicates the company’s strategy of investing in its animal health business.
“We expect the animal health segment to continue to grow, with additional purchase orders expected in the coming months. Management are also exploring a number of ways to further unlock the market, and we believe we are well-placed to progress a number of initiatives to grow our footprint in this space.”
Current orders are expected to be shipped to commercial partners in Europe in the coming weeks, with those partners marketing the products to consumers more broadly.
The addition of the new POs takes the total Anibidiol doses ordered to four million since 2017. In addition to the growth in Anibidiol, Creso is planning to expand its animal health portfolio with hemp flour and hemp seed oil products.