Althea Achieves 1,000 Patient Milestone
Highlights:
· 1,000 patients have now been prescribed Althea medicinal cannabis products in Australia
· 185 Healthcare Professionals have prescribed Althea medicinal cannabis
· Althea is averaging more than 11 new patients per business day, including 227 additional patients in May
· Althea has achieved the 1,000 patient milestone five months ahead of schedule
Australia, 14 July 2019: Australian medicinal cannabis company Althea Group Holdings Limited (ASX:AGH) (‘Althea’ or ‘the Company’) is pleased to provide the following update regarding the uptake of its medicinal cannabis products in Australia.
The Company is excited to announce that it has achieved the 1,000-patient milestone, a more than 53% increase on the 651 patients reported on 29 April 2019.
Althea welcomed 227 new patients in the month of May, and the Company is now averaging more than 11 new patients per business day. The milestone was achieved five months ahead of the Company’s previously stated goal of having its products prescribed to 1,000 patients by November 2019 [ASX Announcement: November 2, 2018].
In addition to Althea passing the 1,000-patient mark and 227 patients in a single month, there are now 185 Australian Healthcare Professionals (‘HCPs’) who have prescribed Althea’s products. The Company expects to increase the number of Althea prescribers to 200, by month’s end.
The rapid uptake of Althea’s products is being driven by the Company’s two-pronged strategy comprised of an on-the-ground Medical Science Liaison team and Althea Concierge, the Company’s proprietary web-based platform which greatly reduces application times for HCP’s looking to prescribe medicinal cannabis.
Althea CEO & Managing Director Josh Fegan said: “Reaching the 1,000 patient milestone less than nine months after listing on the ASX is a major achievement for Althea. I’d like to thank the whole team for working hard to make this happen and reiterate my appreciation for the ongoing support of our shareholders. With our on-the-ground team and unique Althea Concierge platform, Althea is able to educate HCPs about the benefits of our products and streamline the entire medicinal cannabis prescription process.”
Following the success of Althea Concierge in Australia, and with a clear competitive advantage, the Company recently announced the launch of Althea Concierge UK. The United Kingdom is in an emerging market with significant potential, including an estimated treatable population of up to 2.9 million patients[1].
Mr Fegan added: “This latest milestone both reinforces and validates Althea’s strong patient and HCP focussed approach, putting us in a commanding position in Australia. The plan is to replicate our early success in the UK where the full suite of Althea resources, including both the MEDIC and Althea Concierge platforms, have now been deployed. I look forward to providing an update on our progress in the UK in the near future.”
