Althea Group is on the Rise Following Market Update

The company put on another strong performance in January 2020, which saw Althea's patient numbers reach 4,590, while prescribing healthcare providers increased to 459.

The Australian pharmaceutical company, Althea Group Holdings Limited (ASX:AGH), sent its share price climbing by 1.33% today after it provided the market with an update on its medicinal cannabis products for January 2020.

Althea ended the month with a second-best on month record for prescription uptake, with 572 new patients being added in January alone.

We are unrelenting in our efforts to grow the number of patients utilising Althea products and there is no question that our patient growth in January was better than expected, given that many doctors take time off to spend the summer holidays with their families.

Althea Group CEO, Josh Fegan

As a result of its growing prescription numbers, there are now 4,590 Australian patients who have been described Althea's medicinal cannabis products.

This patient growth was driven by the ongoing increase in applications to the Therapeutic Good Administration (TGA) Special Access Scheme, which grew at its fourth highest rate in January, which saw 3,151 new SAS Category B approvals.

agh stock althea

According to the CEO of Althea Group, Josh Fegan, the increasing uptake of its Althea Concierge digital platform has also helped to further boost patient numbers

"Althea is incredibly fortunate to have Althea Concierge, our proprietary online prescribing platform, which is able to service doctors and patients 24/7 with all their medicinal cannabis needs, as well as our high performance on the ground sales team."

"The acceleration in patient numbers experienced over December and January is also continuing into February," Fegan said.

To learn more about Althea Group visit their Company HQ here.

Disclaimer: Past performance is not an indicator of future performance.

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Hugo Gray
Hugo Gray

Hugo Gray is a Melbourne-based journalist with a body of work that covers a diverse range of topics, including immigration law, sex technology, and now the rapidly expanding cannabis industry.

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