GW PHARMA CANNABIS DRUG NEARS APPROVAL

Discussion in 'Cannabis' started by Alfa, Jul 5, 2004.

  1. Alfa

    Alfa Productive Insomniac Staff Member Administrator

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    GW PHARMA CANNABIS DRUG NEARS APPROVAL

    GW Pharmaceuticals on Monday reported more clinical trial data showing
    that its cannabis-based treatment helps control symptoms of multiple
    sclerosis.

    Sativex, an oral spray, reduced spasticity, the spasms and stiffness
    that afflict as many as three-quarters of people with MS. The trials
    were Phase III, the last stage before a drug is approved for marketing.

    But British doctors are unlikely to prescribe the purified mixture of
    cannabis extracts for some time, because the Medicines and Healthcare
    Products Regulation Agency has asked for further data on its safety
    and effectiveness.

    Geoffrey Guy, chief executive, admitted approval was taking longer
    than expected, but said the process was on track.

    The trial data was released alongside GW's results for the six months
    to March 31, which showed pre-tax losses of UKP7.95m (UKP7.34m). Mr
    Guy said cash reserves of UKP24.2m were enough to see the company
    through to commercialisation of Sativex.

    Julie Simmonds, analyst at Evolution Beeson Gregory, said the latest
    data meant GW had a better chance of getting Sativex approved,
    although it would probably be restricted to spasticity, not the


    broader pain indication the company had previously been seeking.