Why the Althea (ASX:AGH) share price is on a high today

The Althea Group Holdings Ltd (ASX:AGH) share price is pushing higher after announcing a new product launch this morning…
The post Why the Althea (ASX:AGH) share price is on a high today appeared first on The Motley Fool Australia. –

ASX Cannabis share price represented by asx investor holding card with cannabis leaf on it

The Althea Group Holdings Ltd (ASX: AGH) share price is pushing high today after announcing a new product launch.

At the time of writing, the cannabis company’s shares are up 2% to 53 cents.

What did Althea announce?

This morning Althea announced further additions to its range of medicinal cannabis products.

According to the release, Althea has officially launched a new and innovative range of 20ml full-spectrum cannabis oil products. These products carry the same trade names, and utilise the same formulations, as existing in-market Althea 50ml and 100ml sized products.

The release explains that the 20ml sized product is designed to promote flexibility in a patient’s treatment. This is especially in the case of initiating patients and those suffering from intermittent illnesses.

Management notes that the smaller unit size provides new medicinal cannabis patients with an option to trial the medication over the recommended two or three-week titration period. After which, in conjunction with their Healthcare Professional, they can determine if the treatment was beneficial for them.

The company believes that when the patient experiences a positive outcome from their medication, they will transition to the more economical larger sized bottle.

Why did it make the move?

Althea believes that costs have prohibited many patients from trialling medicinal cannabis as a treatment option.

It notes that a recent Australian Government inquiry received evidence that cost was “…one of the biggest barriers for patients struggling to access medicinal cannabis.”

By expanding its product portfolio, the company aims to provide price-sensitive patients with a lower entry point, potentially boosting patient acquisition.

Althea’s CEO, Joshua Fegan, commented: “At Althea, we understand that price remains a challenge for many potential new patients that want to trial medicinal cannabis for their conditions. We believe the launch of the new Althea ‘flexi’ 20ml cannabis oil range will be a great way to provide more access to patients via trial size products. This will in turn build confidence in our medicines and brand as we continue to be the first choice for a growing number of Australia’s medicinal cannabis patients.”

Following today’s gain, the Althea share price is now up 20% in 2021.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Althea (ASX:AGH) share price is on a high today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!