Althea Group Holdings Limited AHGHF AGH, a cannabis product manufacturer with headquarters in Australia, has signed an exclusive supply agreement with the Canadian licensed cannabis producer Rocket Factory, to distribute premium dried flower products in Australia, the UK and Germany.
Althea will introduce two of Rocket Factory’s premium craft strains under a new Althea brand in June 2024. This partnership marks a strategic move to meet the growing demand for high-quality medicinal cannabis products in competitive markets. Furthermore, the collaboration aims to address patient expectations for consistent and premium quality strains.
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Rocket Factory’s Expertise And Market Dynamics
Rocket Factory is known for its high standards in producing indoor-grown dried flower cannabis. Their focus on quality, innovation, and consistency aligns with Althea's mission to evolve the cannabis industry. Moreover, the smaller-scale batch production approach ensures greater care, resulting in superior quality and product consistency.
The medicinal cannabis dried flower product category is increasingly competitive, with patient expectations driving the need for premium and consistent products. This partnership enables Althea to navigate the pressures faced by healthcare professionals in making treatment decisions in self-pay markets.
CEO’s Statement And Future Prospects
Joshua Fegan, Althea's CEO, said, "Partnering with an experienced licensed producer such as Rocket Factory provides us with an opportunity to tackle some of the challenges we face in the medicinal cannabis dried flower market. We're excited for this collaboration to consistently provide high-quality medicinal cannabis flower products for healthcare professionals and their patients. All of this aligns with our mission, to evolve the industry, empower healthcare professionals, and ease the burden for patients."
Additionaly, Althea plans to expand its product line with more Rocket Factory strains in the coming months. The company's commitment to regular forecasting and scheduled growing cycles is expected to enhance supply management and product consistency.
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