Proactiveinvestors Australia Althea Group Holdings Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Althea Group Holdings Ltd RSS feed en Wed, 24 Apr 2019 00:41:54 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Althea enters UK medicinal cannabis market through acquisition ]]> https://www.proactiveinvestors.com.au/companies/news/214140/althea-enters-uk-medicinal-cannabis-market-through-acquisition-214140.html Althea Group Holdings Ltd (ASX:AGH) has entered the UK medicinal cannabis market with the acquisition of its new UK subsidiary, Althea MMJ UK Ltd.

The company will be one of the first companies to enter the medicinal cannabis market in that country following the November 2018 legislative change, enabling cannabis-based products to be prescribed by doctors.

Althea’s UK entry has been supported by Aphira Inc (TSX:APH) which has entered into a new cannabis product acquisition agreement and trademark licence agreement with Althea UK.

These agreements will provide Althea UK with high-quality and consistent medicinal cannabis supply allowing the company to focus on patient access and product distribution.

 

 

Improving patient access to medicinal cannabis

Althea CEO Joshua Fegan said: “The UK’s highly regulated framework for prescribing, supplying and possessing medicinal cannabis products is very similar to that of Australia.

“We know focusing on improving patient access to medicinal cannabis and educating medical practitioners on treatment is the key to establishing market share, so the UK market entry will be based on our three-phased business model successfully implemented in Australia.”

Since entering the Australian market in May 2018, 93 registered healthcare professionals are now prescribing Althea medicinal cannabis products to more than 328 patients across Australia.

This represents about 20% of the total market.

Globally unique approach

Fegan added: “Focused on early revenue generation through importation and distribution of products, the education of healthcare professionals and scalable long-term supply of high-quality products, our approach is unique globally.

“The model can be rolled out in other countries where patient access is similarly highly regulated.”

Althea plans to export Althea’s Australian manufactured products for UK distribution by 2020.

- Jessica Cummins 

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Thu, 07 Feb 2019 00:05:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214140/althea-enters-uk-medicinal-cannabis-market-through-acquisition-214140.html
<![CDATA[News - Althea granted cannabis manufacture licence by Australian Government ]]> https://www.proactiveinvestors.com.au/companies/news/208389/althea-granted-cannabis-manufacture-licence-by-australian-government-208389.html Althea Group Holdings Ltd’s (ASX:AGH) wholly-owned subsidiary Althea Company Pty Ltd has been granted a cannabis manufacture licence by the Australian Government’s Office of Drug Control.

The licence provides Althea authorisation to manufacture extracts and tinctures of cannabis and cannabis resin according to relevant manufacture permits.

READ: Althea reaches 100 patients for medicinal cannabis products in five months

Althea chief executive officer Josh Fegan said the company was excited to receive its manufacture licence.

He said: “Coupled with the existing medicinal cannabis licence, Althea can now proceed with the next phase of planning for our Victorian-based production facility.

“Althea shareholders can look forward to a vertically-integrated, ‘seed-to-sale’, state of the art medicinal cannabis operation, comparable to that of our Canadian partner Aphria.”

Partnership with Canadian producer

Althea’s partner Aphria Inc (TSE:APH) is one of Canada’s lowest-cost producers and suppliers of medicinal cannabis.

The Ontario-based producer favours the most natural growing conditions available and is committed to providing pharma-grade medical cannabis and quality patient care while balancing economics and returns to shareholders.

Aphria chief executive officer Vic Neufeld noted the milestone its Australian partner had achieved in receiving its manufacture licence.

He said: “This is another step towards ensuring Australian patients have access to high-quality medicinal cannabis.”

Aphria holds a 25% interest in Althea.

Aiming for 1,000 patients

Fegan said the granting of the manufacture licence was further validation of Althea’s business model.

He added: “Patients approved for Althea medicinal cannabis products have quickly surpassed the recent 100 patient milestone, with 127 patients now approved.

“Similarly, the number of doctors prescribing Althea products has increased from 42 to 50 in the last two weeks – and we are just getting started.

“Our aim is to reach 1,000 patients by this time next year and the comprehensive work we are doing educating mainstream doctors across Australia makes that a distinct possibility.”

Five medicinal cannabis products available in Australia

Althea was founded in 2017 and has through strategic supply and distribution partnerships started sale of five Althea-branded medicinal cannabis products in Australia.

The Melbourne-based cannabis company’s focus on patient care underpins its business strategy and its web-based platform and mobile application Althea Concierge is designed to educate and support patient access to medicinal cannabis.

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Fri, 02 Nov 2018 04:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208389/althea-granted-cannabis-manufacture-licence-by-australian-government-208389.html
<![CDATA[News - Althea reaches 100 patients for medicinal cannabis products in five months ]]> https://www.proactiveinvestors.com.au/companies/news/207340/althea-reaches-100-patients-for-medicinal-cannabis-products-in-five-months-207340.html Althea Group Holdings Ltd (ASX:AGH) has reached 100 Australian patients for its 5 medicinal cannabis products since launching them in May 2018.

The Melbourne-based company's patient-focused approach involves improving access to medicinal cannabis products by educating and supporting doctors to become prescribers and pharmacists to become suppliers.

Althea's products have a 100% approval rate for Therapeutic Goods Administration (TGA) applications and 42 doctors prescribing them throughout Australia.

Hundreds of thousands of potential eligible patients

Althea chief executive officer Joshua Fegan said the company was proud to have reached 100 patients in such a short amount of time.

He said: "Industry reports suggest that there are hundreds of thousands of Australians who may be eligible patients for medicinal cannabis.

"We're focusing our efforts on educating mainstream doctors such as GPs to truly open up access to medicinal cannabis for everyday Australians.

"While it's great to see such a strong uptake, our work has only just begun."

Two prescriber application pathways

The TGA provides special pathways for doctors to apply for and prescribe medicinal cannabis, including the Special Access Scheme B (SAS B) and authorised prescribers (AP) status.

Thirty-seven doctors prescribing Althea products utilised the SAS B application pathway and five were able to obtain AP status with Althea's support.

Comprising GPs, medical specialists and psychiatrists, the approved prescribers have provided the 100 patients with access to medicinal cannabis products for a range of conditions.

Althea's products can be dispensed to patients through a network of more than 250 pharmacies across the country, selected by Althea to be near its prescribing doctors.

Treatment-supporting educational software

Fegan said a lack of awareness in the past, coupled with the lengthy application processes for prescribers, had made it difficult for eligible patients to access medicinal cannabis.

He commented: "Getting our medical science liaison team members in front of medical practitioners to provide education, and showing how it can be done efficiently through our web platform Althea Concierge, is really hitting home.

"We don't want people who could benefit from medicinal cannabis to be inconvenienced through a lack of knowledge.

"It doesn't have to be a grey area and we envisage a world where patients can talk confidently with their existing doctors about medicinal cannabis."

Focus on patient care

Althea was founded in 2017 with a view to acquiring the necessary permits to import, cultivate, produce and supply medicinal cannabis to eligible patients across Australia.

The company's focus on patient care underpins its business strategy and its web-based platform and mobile application Althea Concierge is designed to educate and support patient access to medicinal cannabis.

Althea has also engaged a team of medical science liaisons to assist medical practitioners to become prescribers, and pharmacists suppliers, of Althea products.

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Thu, 18 Oct 2018 01:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/207340/althea-reaches-100-patients-for-medicinal-cannabis-products-in-five-months-207340.html