PharmaCielo Tackles Latin CBD Pet Product Market
Investing News Network, by Danielle Edwards, Sept. 3, 2019
Uruguay was the world’s first country to fully legalize cannabis use in 2013; since then, other nations in the region have begun to loosen their own cannabis laws, causing players in the public cannabis space to take note.
For one company, PharmaCielo (TSXV:PCLO,OTC Pink:PHCEF), the marijuana market in Latin America has proven to be a lucrative arena, despite its youth.
The Investing News Network (INN) spoke to the company’s chief corporate officer, David Gordon, about PharmaCielo’s moves in the nascent Latin American market following the legalization of public cannabis consumption, and its plans to move beyond the region.
Gordon said the pet care space remains an undiscovered realm for cannabidiol (CBD) and pointed to pet care as one of the next trends in the marijuana industry.
“Whether it’s (at) the industrial-level livestock or family pets, it’s an area that’s taken seriously. And as we explore it, it hasn’t been a primary focus for anybody at this stage,” Gordon told INN. “There’s very little done in the area, so we see a legitimate opportunity there for substantial growth.”
In August, PharmaCielo, which operates a crucial subsidiary in Colombia, signed a sales agreement with Uruguay-based animal health company Laboratorios Adler. As a part of the agreement, PharmaCielo is subcontracting the production of anibidiol, a branded complementary feed for pets that contains CBD, to Creso Pharma (ASX:CPH). PharmaCielo acquired the Australia-based cannabis firm in June. …