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UK: High hopes for cannabis medicine

Mark Court

The Times

Thursday 17 Jan 2002

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GW PHARMACEUTICALS, the biotechnology company developing drugs from the cannabis plant, yesterday revealed promising results from its pain relief trials in multiple sclerosis and also said it had begun new trials in cancer.

GW, which joined the Alternative Investment Market last June, grows cannabis plants in a secret location in England and hopes to have its first drug on the market in 2004.

Geoffrey Guy, GW's executive chairman, said the company had had 'a number of approaches' from potential pharmaceutical partners interested in selling the drugs. Dr Guy said his company's strategy was to sign a marketing deal after phase three trials.

GW has just started a phase three trial into the treatment of cancer pain. The trial is expected to be completed at the end of this year, at about the same time as completion of phase three multiple sclerosis trials.

Justin Gover, GW's managing director, said: 'We remain on target to submit our first regulatory application in 2003 with a view to the first cannabis-based medicine being launched in 2004.'

The company, whose shares fell 1p to 114p, reported a full-year pre-tax loss of £7.2 million.

 

 

 

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