Althea Group welcomes French plan to legalise medicinal cannabis extracts

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Medicines cannabis company Althea Group Holdings (ASX:AGH) has updated on developments in France’s generalisation of the use of related products.

In 2021, Althea played a role in France's national pilot program. It was selected as a second source supplier of medicinal cannabis products for assessment by the French National Agency for Medicines and Health Products Safety (ANSM).

The program aimed to evaluate the feasibility of legalising medicinal cannabis in France.

Althea said its participation in the trial, which included approximately 3,000 patients across five treatment areas, positioned the company for a competitive advantage in the anticipated legalised French medicinal cannabis market.

Legal changes mean medicinal cannabis will be accessible to patients on medical prescription in indications defined and evaluated during the pilot scheme. Reimbursement for medicinal cannabis will be available under the new regulatory framework.

Althea said it intends to work closely with the ANSM to obtain the 5-year product authorisation(s) for its full-spectrum soft gel capsules range.