An Australian pharmaceutical developer has received the European Union's first ever health registration to commercialise medical cannabis for pets.
ASX-listed Creso Pharma is now registered with the EU and is in the process of applying for a global import and export license as it aims to sell two cannabidiol-based pet products by April.
The products, which are essentially food additives for horses and dogs, are designed to help target behavioural disorders including anxiety and noise phobias as well as chronic pain, arthritis and diabetes.
Shares in Creso Pharma, which has been developing cannabis- and hemp-derived supplements for both humans and animals, gained 2.5 cents, or 11.9 per cent, to 23.5 cents.
Chief executive and co-founder Miri Halperin Wernli said the registration marked a huge milestone for cannabis-based therapies, with the market currently lacking a lot of therapeutic alternatives for vets and pet owners.
"Many of the ones available are human-based medicines that have been poorly adapted for animals," Dr Wernli said in a statement.
"Our unique CBD-based nutraceutical products are developed specifically for companion animals and are an alternative therapeutic options to a number of common medical conditions among pets that often remain poorly treated."
Creso Pharma Australia pharmaceutical consultant Stephane Ready said a growing body of evidence has shown that various animals could benefit from therapies derived from cannabis and hemp plants.
He said the registration guarantees quality, accuracy and the purity profile of the company's products.
"The industry is changing fast, regulations are changing fast it is very important that the high standards are applied," Mr Ready told AAP.
"The seal of approval is much more comforting and pleasing than a product sold over the internet."
