Althea Group Holdings (ASX:AGH) rides medicinal cannabis growth wave

Company News

by Katrina Bullock

Medicinal cannabis company Althea Group Holdings (ASX:AGH) has seen an uptake of its medicinal cannabis products in Australia.

Althea welcomed 486 new patients in October.  The company says it remains on track to meet its 4,000 patent target by the end of this calendar year.

Althea CEO Josh Fegan says “We have seen phenomenal growth… We are replicating our Australian strategy in the UK and German markets and expect to see similar patient growth trajectories in due course”.

Althea’s growth has been underpinned by the increase in Therapeutic Good Administration Special Access Scheme Category B applications in Australia, with TGA approvals also reaching a record high in October.

Shares in Althea Group Holdings (ASX:AGH) are trading 1.1 per cent higher at 48 cents.