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PEAK PROCESSING LIMITED — Regulatory Filings 2020
Sep 8, 2020
65568_rns_2020-09-08_24c58411-4369-4820-9ba1-d02ec6672567.pdf
Regulatory Filings
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ASX Announcement | 09 September 2020 Althea Group Holdings (ASX:AGH)
CBD products to become available over the counter under proposed TGA reclassification
Investment Highlights:
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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 entry[1]
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The proposed amendment would allow Australian patients to purchase CBD products upon consultation with a pharmacist, without the need for a prescription
09 September 2020: 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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Authorised by: Robert Meissner, Company Secretary
For further information, please contact:
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Althea
Althea Media Enquiries Josh Fegan Dan Francome CEO & Managing Director Media Relations M: 1300 70 20 20 P: +613 9650 5096 E: [email protected] E: [email protected]
Althea Group Holdings Limited (ASX:AGH)
Althea Group Holdings Ltd (ASX:AGH) is a global pharmaceutical company and supplier of medicinal cannabis. Althea also offers a range of education, access and management services to support eligible patients and healthcare professionals in navigating medicinal cannabis treatment pathways.
Althea currently operates within highly regulated medicinal cannabis markets including Australia, United Kingdom and Germany, with plans to expand into emerging markets throughout Asia and Europe.
To learn more, please visit: www.althea.life
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