Jane Morgan Management
Investment Highlights:
• Althea applauds the interim decision by the Therapeutic Goods Administration (TGA) to amend the
current Poisons Standard to down schedule cannabidiol (CBD) to allow greater access through a new
Schedule 3 entry1
• The proposed amendment would allow Australian patients to purchase CBD products upon
consultation with a pharmacist, without the need for a prescription
Australian medicinal cannabis company Althea Group Holdings Limited (ASX:AGH)
('Althea' or 'the Company') is delighted to announce that a major regulatory change has been proposed in
relation to the status of cannabidiol (CBD) in Australia.
Proposed change to make CBD available without a prescription
The Therapeutic Goods Administration (TGA) today released a notice of interim decision to amend the Poisons
Standard for CBD. The proposed amendment to down schedule CBD from Schedule 4 would allow CBD to be
supplied for therapeutic use under a new Schedule 3 (Pharmacist Only Medicine) entry. This new, nonprescription cannabis channel would allow Australian patients to purchase CBD products over the counter
upon consultation with a pharmacist, without the need for a prescription.
Althea has engaged with the TGA throughout the consultation process and is supportive of the down
scheduling of CBD. The proposed amendment would bring patient access into closer alignment with
comparable international jurisdictions, improving access to CBD products for therapeutic use.
Since listing in September 2018, with a focus on patient access, Althea has quickly grown its footprint in the
Australian medicinal cannabis market and is one of the leading providers in the space.
Althea CEO Josh Fegan said: "We applaud the TGA's interim decision in this matter and see it as one of the biggest developments in our industry to date. The interim decision reflects the significant shift in community and government attitudes towards medicinal cannabis since it was legalised in Australia in late 2016, which has seen it move from a fringe alternative towards an accepted mainstream option. As a strong advocate for patient access, Althea has closely monitored the proposed amendment since it began and has participated in the consultation process. We are excited by the TGA's interim decision to down schedule CBD products and see this development as a big step forward for prescription cannabis products already available in Australia."
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