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Althea Group Holdings Ltd

Althea Group achieves 1,000-patient milestone for medicinal cannabis prescription

1,000 patients have now been prescribed Althea medicinal cannabis products in Australia.

cannabis leaf
The milestone has been achieved five months ahead of schedule

Althea Group Holdings Ltd (ASX:AGH) has achieved the 1,000-patient milestone, a +53% increase on the 651 patients reported on April 29, 2019.

The licensed producer and supplier of pharmaceutical grade medicinal cannabis has added 227 new patients in the month of May and is now averaging more than 11 new patients per business day.

Importantly, the milestone was achieved five months ahead of Althea’s previously stated goal of having its products prescribed to 1,000 patients by November 2019.

Patient growth

In addition to passing the 1,000-patient mark and 227 patients in a single month, there are now 185 Australian Healthcare Professionals (HCPs) who have prescribed Althea’s products.

The company expects to increase the number of Althea prescribers to 200, by month’s end.

HCP growth

Althea CEO and managing director Josh Fegan said: “Reaching the 1,000 patient milestone less than nine months after listing on the ASX is a major achievement for Althea.

“I’d like to thank the whole team for working hard to make this happen and reiterate my appreciation for the ongoing support of our shareholders.

“With our on-the-ground team and unique Althea Concierge platform, Althea is able to educate HCPs about the benefits of our products and streamline the entire medicinal cannabis prescription process.”

READ: Althea enters UK medicinal cannabis market through acquisition

Following the success of Althea Concierge in Australia, and with a clear competitive advantage, the company recently announced the launch of Althea Concierge UK.

The UK is in an emerging market with significant potential, including an estimated treatable population of up to 2.9 million patients.

Quick facts: Althea Group Holdings Ltd

Price: $0.76

Market: ASX
Market Cap: $177.16 m
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