Australian Cannabis Company Althea announces first UK prescription

Althea Group Holdings, the Australian medicinal cannabis company, has announced the receipt of its first prescription in the United Kingdom.

The company previously announced in February that it had entered the UK market, which it described as highly regulated. Althea will export products to the UK from Australia.

The company said in its 21 June press release that the UK market represented a significant new distribution channel in addition to its main Australian business.

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CEO of Althea, Josh Fegan, said: “We are excited to have received out first prescription for Althea medicinal cannabis in the UK. We are familiar with the significance of achieving a first prescription from our experience in Australia, where Althea recently surpassed the 1,000-patient milestone. The preparation and work which has resulted in our first prescription cannot be underestimated. From small things, big things grow.”

As reported by Yahoo Finance, the news sent the company’s stock up 6% on Monday 24 June, to an all time high of AU$1.10 (US$0.76) before settling at $1.01 at closing.

Althea is listed on the Australian Securities Exchange (ASX) under the symbol “AGH”.