Canopy Growth Corporation
(TSX:WEED) (FSE:11L1) (NYSE:CGC)
Another big player in the cannabis sector, Canopy Growth Corporation announced in early August that Canopy Animal Health (division of Canopy Health, wholly owned by Canopy Growth Corporation) received Health Canada approval for clinical trials of the effectiveness of cannabis-derived compound cannabidiol (CBD) as a treatment for anxiety in animals. In a recent Toronto Star article entitled “Health Canada approves clinical trials for cannabis-laced pet food to treat animal anxiety”, Dana Vaughn, executive VP of CSO for Canopy Animal Health, states that the clinical trials represent the first time a company has sought federal regulatory approval for the practice of adding CBD to pet food. “There has been little research done with CBD or other phytocannabinoids in pets up until now”, adding that any products that add phytocannabinoids to pet food so far have been done without regulatory approval with the exception of hemp-seed oil products containing fatty acids (but not CBD). The study will provide concrete evidence showing how CBD affects different animals and how different sized animals are impacted by its use. Vaughn said very few anti-anxiety remedies exist for pets and CBD can help fill that gap. “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 of 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. These trial approvals mark a significant milestone on the journey of making cannabis-based drugs accepted and recommended by veterinarians”.
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