Canopy Growth (NASDAQ: CGC) is going to the dogs -- literally.
On Thursday, the Canadian marijuana company announced that its Canopy Animal Health unit has launched a line of cannabidiol (CBD) products for man's best friend. CBD is a cannabinoid that, unlike the more famous delta-9-tetrahydrocannabinol (THC), does not get a user high. It's also purported to have medicinal properties.
Image source: Getty Images.
Canopy Growth's line is called SurityPro and includes five treats meant to confer different benefits for different needs: Calm, Active, Multi, Healthy Aging, and the liquid product Well Drops. The first four products come only in smoky bacon flavor for your undoubtedly meat-worshipping pooch, while the Well Drops are available in unflavored, chicken, bacon, and creamy peanut butter varieties.
Save for the Well Drops liquid formulation, each treat is sold in a 30-piece set priced according to the animal's weight. For small dogs (5 to 25 pounds), the cost is $32.99; for medium dogs (26 to 50 pounds), it's $34.99; and for large dogs (51 to 130 pounds), the price is $36.99. The heavier the dog, the more CBD packed into the goodie.
The company has been aggressively pushing into the CBD space lately. Last September, it launched a CBD line for humans in partnership with high-profile lifestyle guru Martha Stewart.
While the market for dog CBD likely isn't tremendous, it's encouraging that the company's involvement in that segment is progressing. It said that SurityPro is the result of four years of research and development.
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