Proactive Investors - Run By Investors For Investors

Althea enters UK medicinal cannabis market through acquisition

The company expects to supply medicinal cannabis to patients from around March 2019.
Cannabis growing
Althea is a patient-focused medical cannabis company and supplier of medical cannabis products

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 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full AGH profile View Profile

Althea Group Holdings Ltd Timeline

Related Articles

data graphic
March 22 2019
The Toronto company is busy meeting what it says is significant demand by building a data asset covering the medical cannabis sector
medical cannabis concept
February 10 2019
AusCann is a fully integrated early-mover pharmaceutical cannabinoid company.
Cannabis leaf
November 19 2018
With the legalisation of recreational cannabis in Canada in October, and the US expected to follow suit, the company has its sights set on building up the very best in the industry
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use