Business
Looking at The CBD Pet Market Opportunity: Canopy Growth Corporation, CannTrust Holdings, EnviroTechnologies International (OTC:ETII), Isodiol International
Looking at The CBD Pet Market Opportunity: Canopy Growth Corporation, CannTrust Holdings, EnviroTechnologies International (OTC:ETII), Isodiol International.
About this update from Envirotechnologies Intl Inc
[{"type":"text","content":"\nPOINT ROBERTS, Wash. and DELTA, British Columbia, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks, releases a snapshot looking at the growing opportunity for the CBD pet market and how companies that are positioned in the cannabis space are adding pet markets to their growing portfolios.\n According to the American Pet Products Association (APPA), $69.51 billion was spent on pets in the U.S in 2017 and it’s estimated that number will grow to $72.13 billion for 2018. Canadians spend $6.6 billion a year on their pets according to recent numbers. Looking at how cannabis/CBD plays into the pet market, CTV reported, “In 2017, sales of cannabis products marketed for pets at medical and adult-use cannabis dispensaries was nearly $7 million in California, Colorado, Oregon and Washington, according to BDS Analytics. In Colorado, sales of pet products grew 49 per cent in 2017, versus growth across all product categories at 15 per cent, it said.” Canopy Animal Health, stated as the global leader in cannabinoid science for pets, is a division of Canopy Health, a wholly owned subsidiary of Canopy Growth Corporation (TSX:WEED), (NYSE:CGC). In August they announced that approval had been received from the Veterinary Drug Directorate of Health Canada to research the effectiveness of cannabidiol (“CBD”) to treat anxiety in certain animals. Continued: The research will be conducted by Canopy Animal Health, a division of Canopy Health which focuses on developing cannabis-based healthcare products for companion animals. The approval comes in the form of a No Objection Letter for the use of a proprietary CBD enriched oil formulation, previously administered in preclinical dosing and safety studies, as a potential therapy for anxiety. The CBD formulation will be produced by Canopy Growth in its GMP-certified production facility in Smiths Falls, Ontario. From the release: “Our passion to create safe and effective products for animals is driven by the love we share for our pets,” commented Marc Wayne, Managing Director, Canopy Health Innovations. “The use of natural-occurring cannabinoids as a therapy for companion animals is a logical new forefront of medical discovery and the research we are working on at CAH is world leading. The...