Althea Group (ASX:AGH) - CEO, Joshua Fegan
CEO, Joshua Fegan
Source: Retail Pharmacy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Althea (AHG) completes its first shipment of medicinal cannabis products to its local partner in South Africa, Africann
  • Africann is a licensed cannabis wholesaler who specialises in the import and distribution of medicinal cannabis in the country
  • This paves way for Althea to enter the South African medicinal cannabis market which is estimated to be worth US$667 million (A$883 million) by 2023
  • Althea has ended the day 4.69 per cent in the green with shares trading at 33.5 cents

Althea (AGH) has completed its first shipment of medicinal cannabis products to its local partner in South Africa, Africann.

Africann is a licensed cannabis wholesaler who specialises in the import and distribution of medicinal cannabis in the country.

This first shipment marks an important achievement for Althea, paving way for it to enter the emerging South African medicinal cannabis industry which is estimated to be worth US$667 million (A$883 million) by 2023.

“We are excited to have exported our initial shipment of Althea products for South Africa. This development once again reflects our ambition and progress in becoming the world’s leading supplier of cannabis-based medicines,” CEO Joshua Fegan said.

“The Althea brand continues to build trust and enduring loyalty with Healthcare Professional and patients all over the globe, with South Africa the latest country able to experience our unrivalled market access program.”

Althea’s products are now available across Australia, Africa, North America and Europe.

Althea has ended the day 4.69 per cent in the green with shares trading at 33.5 cents in an $83.95 million market cap.

AGH by the numbers
More From The Market Herald
The Market Herald Video

" Antisense Therapeutics (ASX:ANP) shares rise on long COVID-19 study

Antisense Therapeutics (ASX:ANP) announces the initial outcomes of its collaboration to study the neurological aspects of…
The Market Herald Video

" Immuron (ASX:IMC) shifts focus to therapeutic drug candidate

Immuron (ASX:IMC) has deprioritised SARS-COV-2 research to focus on the clinical development of its therapeutic drug…
The Market Herald Video

" Bod Australia (ASX:BOD) awarded US Hemp Authority certificate for CBD extract

Bod Australia (ASX:BOD) has been awarded US Hemp Authority Certification for its exclusive CBD extract and…
The Market Herald Video

" Fisher & Paykel (ASX:FPH) flags softer profits for first half of FY23

Fisher & Paykel Healthcare (ASX:FPH) has forecast weaker revenue and profits for the half-year to the…