According to the Australian media outlet The Market Herald, Vitura Limited (ASX: VIT) has announced plans to offer a "smoke-free" solution, specifically a prescription e-cigarette. The capital city of Australia, Canberra, is pushing for e-cigarettes to be classified as prescription drugs, and Vitura sees this new regulation as a "market opportunity." As of the last trading session, the company's stock price was 25 cents.
Vitura company has swiftly responded to the newly implemented Canberra law this month which bans the sale of non-prescription e-cigarettes. Recognizing a "market opportunity," Vitura is preparing to become a prescription e-cigarette supplier. It plans to incorporate prescription e-cigarettes as a smoking cessation product on its online service platform, CanView.
For companies that have already ventured into the medical marijuana market without hesitation, including deals with prescription drug clinic providers and the mysterious field of psychedelic medicine, this move comes as no surprise. Today, Vitura Inc. provided a fair assessment of the reasons behind this decision.
In support of the recent and planned changes by the TGA, all nicotine vaping products (NVPs) will now only be available through medical prescriptions and can only be dispensed by pharmacists," Vitura company stated in a declaration. "Vitura has incorporated this innovative vertical product into its product supply and distribution ecosystem CanView.
A hidden loophole in the new federal law has paved the way for Vitura Corporation to make its mark in the prescription e-cigarette market. Doctors and nurse practitioners will now be able to prescribe e-cigarettes without seeking pre-approval from health regulatory agencies, thanks to the "Special Pre-Approval Scheme C Channel" review process.
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