Cannabiz

Established in July 2020, Cannabiz serves as a media platform focused on advancing Australia's legal cannabis industry. Cannabiz aims to inform, educate, and unite the sector with its website, a weekly newsletter covering industry news, market insights, detailed reports, networking events, and business consulting services.

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Vitura Health 'back on track' as firm expects Q4 to hit targeted growth

3 days ago | cannabiz.com.au | Steve Jones

The fundamentals of Vitura Health are “back on track” with its Q4 performance forecast to hit all business targets, chief executive Geoff Cockerill has said. In a trading update, the company said revenue growth in the final quarter of FY25 should support an annualised increase of 11%, while margins and a reduction in operational expenditure are forecast to rise 3% and improve 10% respectively, in line with its FY25 goals.
New cannabis cultivation group calls for 'urgent action' on imports

1 week ago | cannabiz.com.au | Steve Jones

A new cultivation lobbying group has formed in Australia and called for “urgent action” to “save the local medicinal cannabis cultivation industry from collapse”. The Australian Cannabis Cultivators Guild, spearheaded by Hale Farm director Cade Turland, has sent a letter to federal health minister Mark Butler warning of “catastrophic failures across local cultivators” unless imports are restricted and a “domestic-first” policy is adopted which allows cultivators to “grow their permitted amounts”.
Tasmanian Botanics to 'breathe new life' into Althea brand as it snaps up pharma assets for $1 million

1 week ago | cannabiz.com.au | Martin Lane |Steve Jones

Althea Group Holdings (AGH) is selling its pharmaceutical assets to Tasmanian Botanics for A$1 million in a deal that will involve a revenue-sharing arrangement on residual inventory sales. Althea said the transaction “relates solely to the Althea trademarks, brand, goodwill, website, phone number, and pharmacy/prescriber data of the pharmaceutical division”.
From visions of global leadership to an asset sale: where did it go wrong for Althea's medical aspirations?

1 week ago | cannabiz.com.au | Steve Jones

With Althea calling time on its Australian pharma business and selling the assets to Tasmanian Botanics, Cannabiz chief correspondent Steve Jones analyses what went wrong for one of the local industry’s early movers. At the Althea Group Holdings (AGH) annual general meeting in November 2022, the company’s chief executive, Josh Fegan, was in particularly bullish mood.
Althea sells pharma assets to Tasmanian Botanics for $1 million

1 week ago | cannabiz.com.au | Martin Lane |Steve Jones

Althea Group Holdings (AGH) has signed a binding term sheet to sell its pharmaceutical assets to Tasmanian Botanics for A$1 million, plus a revenue-sharing arrangement on residual inventory sales. AGH flagged a potential sale of the division as part of a “comprehensive strategic review” in a quarterly update to the ASX last week.
Althea offloads pharma assets to Tasmanian Botanics for $1 million

1 week ago | cannabiz.com.au | Martin Lane |Steve Jones

Althea Group Holdings (AGH) has signed a binding term sheet to sell its pharmaceutical assets to Tasmanian Botanics for A$1 million, plus a revenue-sharing arrangement on residual inventory sales. AGH flagged a potential sale of the division as part of a “comprehensive strategic review” in a quarterly update to the ASX last week.
Montu establishes telehealth working group chaired by Greg Hunt

1 week ago | cannabiz.com.au | Martin Lane |Steve Jones

Montu has set up a telehealth sector working group chaired by former federal health minister Greg Hunt “to help shape shared principles for high-quality virtual care in Australia”. The group, which held its inaugural meeting last month, will develop governance standards and a 10-year roadmap “that can underpin a safe, inclusive, and sustainable virtual care system”, Montu said. The growth of telehealth has been broadly welcomed in recent years, given its ability to make healthcare more accessible.
News in brief: Leafio to add fourth distribution centre; Rua grows revenue; Lisa Varley wins CEO award

1 week ago | cannabiz.com.au | Steve Jones

Montu’s medicinal cannabis wholesale business, Leafio, is planning to open a fourth warehouse later in the year, with options being considered on the west coast and in Far North Queensland. Leafio, which operates distribution centres in Sydney, Melbourne and Brisbane, said a final decision on the location will be based on “logistics and demand”. The expansion comes as the company announced a 60% growth in sales to pharmacies over the past 12 months.
News in brief: Leafio to add fourth distribution centre; Rua grows revenue; Lisa Varley

1 week ago | cannabiz.com.au | Steve Jones

Montu’s medicinal cannabis wholesale business, Leafio, is planning to open a fourth warehouse later in the year, with options being considered on the west coast and in Far North Queensland. Leafio, which operates distribution centres in Sydney, Melbourne and Brisbane, said a final decision on the location will be based on “logistics and demand”. The expansion comes as the company announced a 60% growth in sales to pharmacies over the past 12 months.
News in brief: Leafio to add fourth distribution centre; Rua grows revenue

1 week ago | cannabiz.com.au | Steve Jones

Montu’s medicinal cannabis wholesale business, Leafio, is planning to open a fourth warehouse later in the year, with options being considered on the west coast and in Far North Queensland. Leafio, which operates distribution centres in Sydney, Melbourne and Brisbane, said a final decision on the location will be based on “logistics and demand”. The expansion comes as the company announced a 60% growth in sales to pharmacies over the past 12 months.