Join our daily newsletter At The Bell to receive exclusive market insights
- In an Australian first, pharmaceutical company Althea Group (AGH) can now sell medicinal cannabis online
- An update to the company’s Althea Concierge platform allows patients to purchase medicinal cannabis products online and get it delivered to their door
- This update will eliminate the need for multiple visits to the doctor and the pharmacy
- CEO Josh Fegan believes contactless sales are the biggest development so far for the medicinal cannabis industry in Australia
- Althea is up 8.7 per cent on the market today and is trading for 37.5 cents each
In an Australian first, pharmaceutical company Althea Group (AGH) can now sell medicinal cannabis online.
The company’s Althea Concierge platform has now been registered with the Therapeutic Goods Administration (TGA) as a medical device.
The platform was first launched in Australia in Septemeber 2018 and provides medical education and clinical evidence for healthcare professionals looking to prescribe medicinal cannabis.
Althea Concierge will allow doctors to prescribe medicinal cannabis products via the platform and patients can pay for their prescriptions online. This will eliminate the need for multiple visits to the doctor and the pharmacy.
Patients can download Althea Concierge app on their smartphones, and the app will deliver customised dosage reminders to the patient, helping them record their medical usage.
Althea CEO Josh Fegan is very excited about the update to the Althea Concierge platform.
“The ability for contactless sales is probably the biggest development yet for medicinal cannabis in Australia,” he said.
“You need to have a lot more than just a quality product in the highly regulated prescription cannabis space, and Althea’s ongoing investment in technology, provides us with a premium value proposition that we believe none of our competitors possesses,” he added
The company is also looking to update Althea Concierge in the U.K. over the next few months.
Althea is up 8.70 per cent on the market this morning and is trading for 37.5 cents each at 1:07 pm AEST.
