Authorities in Uruguay have given Australia-based pharmaceutical company Creso Pharma the green light to market its line of CBD animal products in the South American country.
Creso Pharma, which offers a range of cannabis-derived wellness and lifestyle products for humans and animals, said Monday it received regulatory approval from Uruguay’s Ministry of Agriculture and Animal Feed to sell its patented “anibidiol” pet product line in the country.
The approval, secured through its partner Adler Laboratories Uruguay, coincides with a purchase order for some 175,000 packages of the product, to be delivered in the first quarter of next year.
The company said its product line was the first hemp-based CBD complementary feed approved for pets in Latin America and heralded the news as a “key strategic milestone” in its ambitions to expand across global markets.
“The company’s entry into the Latin American market more broadly represents a major strategic development and significant growth opportunity,” Jorge Wernli, Creso commercial director, said in a statement.
Creso Pharma Ltd. trades on the Australian stock exchange as CPH.