Ahead of Legalization Vote, Canadian CBD Companies Announce Plans for Animal Products
As pet spending in Canada increases and the country gears up for a final vote on legalizing recreational marijuana, the race to provide CBD products for animals is on.
In recent months, a number of U.S. companies specializing in cannabidiol (CBD) products for humans have launched or acquired subsidiaries focused on companion animals. These new lines of oils, supplements, and treats are aimed largely at providing nonprescription forms of pain and anxiety relief. A similar trend is unfolding in Canada as well, especially as the country prepares to legalize recreational cannabis nationwide.
Just this week, 3 Canadian companies issued press releases detailing how they plan to launch and bolster their CBD product offerings for pets.
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CannTrust and Grey Wolf Animal Health
CannTrust Holdings Inc., one of Canada's leading licensed producers of medical cannabis, announced that it has entered into a letter of intent with Grey Wolf Animal Health Inc. Together, the companies plan to develop cannabis products to support pet well-being.
CannTrust has a spectrum of CBD and marijuana products for human consumption, and Grey Wolf Animal is a biotech company that focuses on identifying and producing products that meet the underserved needs of veterinarians and pet owners. This partnership marks the first time either company will offer CBD products for animals.
“This is a key step in our strategy to expand our best-in-class products and technology into adjacent categories,” CannTrust CEO Eric Paul said. “We look forward to launching, together with Grey Wolf, industry-leading, high quality, standardized cannabis products specifically designed for pets."
In a joint press release, the companies noted that there is a sizeable market for cannabis products in the pet care industry—citing approximately 16 million cats and dogs in Canada and annual pet-related expenditures in excess of $5 billion.
“We believe that CannTrust's best practices in manufacturing pharmaceutical-grade products, distribution and practitioner education programs in the human medical cannabis market complements our expertise in the veterinary market to place us at the forefront of cannabis for pets.” Ian Sandler, DVM, CEO of Grey Wolf, said.
Established in 2015, True Leaf Pet has been working to strengthen its presence in the animal CBD market. On April 17, the company announced that Don Chisholm had been appointed chief marketing officer and his creative agency, Dossier, had been named the company’s branding partner.
True Leaf Pet provides hemp-based chews, oils, and sticks designed for immune support, hip and joint care, and calming effects in dogs. According to the company, in addition to online retail, True Leaf Pet is available in more than 1500 stores in Canada, the United States, and New Zealand as well as multiple European countries.
Coupled with its creative partnership announcement, True Leaf confirmed it has retained Hill+Knowlton Canada, a top-rated government relations firm. In a press release, True Leaf said the partnership will help the company secure government approvals within an increasingly complex regulatory, social, and political environment for the cannabis industry.
“True Leaf’s focus on helping both people and pets live healthy, happier lives by providing effective plant-based treatments for pain and anxiety management is what makes them stand apart in this new marketplace,” Goldy Hyder, president and CEO of Hill+Knowlton Canada, said.
