Althea has introduced a CBD soft-gel capsule and an "ultra-high" THC dried flower product, citing evolving dosage preferences and unmet patient demand as the driving forces behind the launches.
The new capsule, called CBD25, is a full spectrum formulation containing 25mg of cannabidiol and under 0.25mg of THC. It was manufactured by FoliuMed.
Althea indicated the product is suited for sale as an over-the-counter item.
In a separate development, Althea has entered the dried flower category with the release of its first flower product, THC25, which the company described as an effort to break into the fast-growing segment.
Two additional flower products are also in the pipeline, though the company has not yet disclosed further details.
The move into dried flower is a notable shift for Althea, which has historically concentrated its efforts on cannabis extract products.
With dried flower gaining traction among patients, the company said THC25 was introduced to "capitalize on this sizeable market opportunity".
"The dried flower market is primarily driven by highly concentrated THC products, representing just over half of the total dried flower category," the company said.
Managing director Joshua Fegan described the soft-gel capsules as "very competitively priced" and said they address a clear and growing preference among patients.
"We believe Althea's soft-gel capsules will create incremental sales opportunities for the business, with market research clearly identifying this preparation as the most desirable choice of delivery format," he said.
"We are equally excited about expanding our dried flower range. The growth of the flower segment in Australia has been significant over the previous 12 months and as the undisputed market leader in cannabis extracts, it is strategically important for Althea to have strong market share in the flower category as well.
"Althea's brand awareness and reputation with doctors is second to none, and we expect that to translate into significant market share in the flower category within a short amount of time."
Althea pointed to a consumer preference survey showing that patients favour soft-gel capsules over conventional solid oral dosage forms.
The company also noted that "first generation" bottled cannabis oils "remain a challenge for patients with visual or dexterity impairments, taste intolerances and for patients residing in aged care facilities and hospitals".
"Althea soft-gel capsules provide familiarity, convenience and confidence for doctors and patients, delivering precise and standardised dosing of the medicine," it said.
