Althea Expands into UK
7 February 2019
Althea Group Holdings (ASX:AGH) becomes one of the first Australian medicinal cannabis companies to establish operations in the UK.
They are being supported by a Canadian Licensed Producer, Aphria, who will be supplying product until Althea’s Australian cultivation and manufacturing operations are up and running, expected in 2020.
Although legislation passed in November 2018, the UK is experiencing similar hurdles that Australia faced in 2016 – medical professionals don’t know how to prescribe, what to prescribe, or the process of prescribing, and general access by patients is difficult.
Only a very small number of patients have been provided a prescription.
Althea intends to replicate their Concierge education platform that allowed a successful entry into the Australian market, leading to their recent announcement of reaching over 300 patients.
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.”
Althea has appointed a highly respected UK pharmaceutical Physician to lead the new venture as Althea UK’s National Medical Director, bringing over 10 years of clinical and pharmaceutical experience, particularly in the area of pain management.
Patient acquisition through Althea’s Concierge medical education technology platform coupled with expert on-the-ground medical representatives are expected to be Althea UK’s primary drivers of patient access to medicinal cannabis across the UK.