Creso Pharma Ltd (ASX:CPH) (FRA:1X8) has finalised the development of anibidiol® swine, a new and innovative hemp flour and oat bran based complementary feed product to support stress reduction and wellbeing of pigs reared indoors and outdoors.
The new product marks another step in the company’s strategic portfolio expansion and provides Creso with an entry point into the livestock market.
Creso will begin marketing the product to farmers and breeders through its established partners and distributors in the animal health space.
“Access into another lucrative vertical”
Creso commercial and development director Dr. Gian Trepp said: “anibidiol swine was developed to address the large need expressed by farmers for an effective, natural and plant-based complementary feed to support the reduction of stress and swine tail biting.
“The development follows considerable work undertaken by the Creso Pharma team and we are very pleased to have this product ready for launch on a global basis.
“We anticipate that the launch will provide access into another lucrative vertical for the Company and contribute to the company’s growing revenue streams.”
Reducing pig stress and tail biting
The company has developed anibidiol swine to address the problem of tail biting in pig herds, which is a common problem and can result in lesions that may decrease the value of the animal at slaughter.
According to experts, a common cause of tail biting in pigs is the feeling of stress or discomfort, with the action diverting the animal’s attention.
Reports have shown a positive impact when using hemp plants to reduce pig stress and tail biting.
Creso began developing anibidiol swine in March 2020, following concerns expressed by farmers and the product is Swiss made in line with the European Feed Catalogue.
anibidiol swine represents an important strategic portfolio expansion providing Creso with entry into another lucrative area beyond its existing reach in the household pet market.
The company will begin marketing the product to farmers and breeders through its established partners and distributors in the animal health space.
Its initial focus will be on Europe and Latin American markets and the first sales are expected with vets, livestock feed shops and online during H2 CY2021.
The livestock and swine feed market provide a very lucrative opportunity for Creso.
Notably, the swine feed market is projected to grow to US$148.17 billion by 2027 with a population of over 150 million pigs in Europe and 67 million pigs in Latin America.
Story by ProactiveInvestors
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