MedReleaf Australia Launches Initiative to Widen Access to Medical Cannabis
Announcement posted by MedReleaf Australia 27 Oct 2021
Brisbane, QLD, Australia – October 27, 2021 – Indica Industries Pty Ltd t/as MedReleaf Australia (“MedReleaf” or the “Company”), announced today that they have launched a new initiative to make medical cannabis more easily affordable to some 5 million disadvantaged Australians. Initially, two dried products will be included at a cost significantly below the current average unit price of comparable medical cannabis products in Australia.
The MedReleaf Concession Scheme (MCS) is now available to the following card holders:
• Pensioner Concession Card
• Commonwealth Seniors Health Card
• Health Care Card
The new products meet all the standards of Australia’s Therapeutic Goods Administration (TGA). MedReleaf is advising health professionals regarding this new option that, it is hoped, will broaden the number of Australian patients who can afford to access medical cannabis when it is prescribed by their doctor.
“It has become increasingly evident that medical cannabis products can be a beneficial option for patients managing the symptoms of a wide range of health conditions,” said Russell Harding, CEO of MedReleaf. “Our intent is to take a step to extend the benefits of this medicine to disadvantaged members of our society who may currently find medical cannabis products cost-prohibitive. We believe this major initiative is both good business and the right thing to do. Doctors are now able to prescribe two dried medicinal cannabis products for their patients, available through pharmacies at about a third of the current average price.”
“We’re proud of the broad range of medical cannabis products MedReleaf offers to Australian Doctors for their patients, and intend to continue to make new options available,” added Cam Battley, MedReleaf’s Managing Director. “One gap we have identified in the rapidly-growing Australian market is accessibility for lower-income / concession patients covered by Commonwealth programmes, since most medical cannabis products are not reimbursed via the Pharmaceutical Benefits Scheme, so costs are paid out of pocket. Our objective is to expand the market by offering new high-quality products specifically for patients who may not have been able to afford medical cannabis previously.”
About MedReleaf
MedReleaf Australia is fully licensed by the Federal Government’s Office of Drug Control (ODC). A private company operating in the Australian medical cannabis system since 2016, supplying a wide range of products to patients nationally. MedReleaf is one of the six founding members of the trade association Medicinal Cannabis Industry Australia (MCIA).
For more information, please visit our website at www.medreleafaustralia.com.au.
Contact
Russell Harding – CEO Cam Battley – Managing Director
rharding@medreleafaustralia.com.au cbattley@medreleafaustralia.com.au
Media Enquiries
Nathan Davis – COO
ndavis@medreleafaustralia.com.au
Disclaimer
Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "will" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include, but is not limited to, statements concerning the use of proceeds from the Offering, future sales growth and profitability, and the business plan of the Company, generally, including additional product lines and entry into the New Zealand market. The forward-looking statements contained in this press release are based on certain key expectations and assumptions made by MedReleaf. Although MedReleaf believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because MedReleaf can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the medical cannabis industry in general, constraint in the availability of products and services, the current COVID-19 pandemic, changes in legislation impacting the cannabis industry and the competitive landscape.
The forward-looking information contained in this press release is made as of the date hereof and MedReleaf undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.