|
Cannabis Campaigners' Guide News Database result:
|
|
UK: Cannabis-Based Medicine Available Within Two Years
Sylvia Pfeifer Scotland On Sunday
Sunday 24 Feb 2002 A SMALL Porton Down-based company will make history when, if all goes to plan, it starts supplying Britain's NHS with the world's first cannabis-based medicine within the next two years. Last Monday, shares in biotechnology company GW Pharmaceuticals surged more than 12% to 147p after the market realised the implications of government moves to clear the way for the introduction of cannabis derivatives as NHS medicines for relieving multiple sclerosis and to ease pain after operations. The government will also ask the National Institute for Clinical Excellence to begin assessing next year whether the treatments are effective and worth the money they will cost the NHS. If the process of trials, licensing and NICE approval is completed on time, the painkillers could be available on prescription by 2004 or 2005. GW Pharmaceuticals' managing director, Justin Gover, believes the department of health's intention to put forward medicines not yet even approved by the Medicines Control Agency is further evidence of the government's intention to make cannabis-based treatments available on the NHS in the fastest possible time. The lead drug being tested by GW is an under-the-tongue spray for relief from multiple sclerosis, currently in phase III clinical trials. It is expected to be ready for approval by the MCA in 2003. GW's chairman, Geoffrey Guy, a qualified doctor and serial entrepreneur, formed the company three years ago with Home Office backing. It is the only company licensed in the UK to develop cannabis for medicinal purposes. GW grows 15 tonnes of cannabis a year in secure greenhouses at a secret location. The secrecy surrounding the company's activities has not deterred investors who have seen their investments surge. When GW floated on the Alternative Investment Market last June, the issue was oversubscribed more than six times. The firm raised 25m. Gover stresses GW has never received government funding and has followed the same type of business plan as those of other biotechnology companies. But, unlike many of its competitors, GW can boast a cash balance of just under 26m, all of which is being used to fund organic growth. Potential proceeds should not be underestimated: the worldwide market for pain control is estimated at between 7.8bn and 10.6bn. In Britain there are thought to be about 85,000 people with multiple sclerosis. To develop its drugs, the company extracts "cannabinoids" - molecules found in the plant - and other constituents of cannabis, which are incorporated into delivery technologies such as inhalers. Cannabinoids have a number of properties such as mitigating pain, spasm and sleep problems. The plants are bred to exhibit specific molecules which have different therapeutic effects. The company is quick to stress that its products, once available, will not give patients the "high" enjoyed by cannabis smokers.
After you have finished reading this article you can click here to go back.
|
This page was created by the Cannabis Campaigners' Guide.
Feel free to link to this page!