Cannabis Science Inc (OTCMKTS:CBIS) has entered into PET Care industry by acquiring one of the leading PET Care product manufacturers and distributors named Equi-Pharm. Cannabis Science is a renowned name in U.S. when it comes to the development of cannabis-based medicines and other relative consulting procedures. The move helped the company elevating 1.69% to touch $0.03 yesterday.
U.S. PET Care industry is a growing market, and it seems to be the perfect time to enter in this field. Its decision to purchase Equi-Pharm is an intelligent step taken in the given market conditions. The company specializes in manufacturing and distribution of PET and horse topical and grooming applications. It’s a win-win situation for both Cannabis Science and Equi-Pharm.
Cannabis Science can explore the PET care market without any hassle. Along with Cannabis Science Inc (OTCMKTS:CBIS), Equi-Pharm can also expand into ‘large animal’ section including cattle, horses, sheep, and ‘small animal’ section like dogs, cat, snakes, etc.
The senior management of Equi-Pharm seems excited to have received this opportunity. According to Dana Kennamer, Vice President, Equi-Pharm, it’s one of the best opportunities that the company has received lately. Under the expert guidance of Cannabis, Science can explore the PET care industry with more efficacy.
The initial response given by the shareholders is excellent, and the management hopes to receive the same response in the future as well.
At present, the sales of Equi-Pharm is limited due to its narrow distribution network that is spread across Tennessee, California, Ohio, Kentucky, Louisiana, and some parts of Europe. But with Medical Cannabis’ support, it hopes to enjoy a larger marketplace, more customers and global distribution network. The company hopes that the sales numbers will gradually increase in the upcoming quarters.
Kennamer dreams to place Equi-Pharm and Cannabis Science’s combined entity among the top five players in the PET care market. She hopes to live this dream in the near future.