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UK: GW brings forward launch of cannabis-based medicine

The Financial Times

Wednesday 15 Jan 2003

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GW Pharmaceuticals (LSE: GWP.L - news) , the company licensed by the Home
Office to work with cannabis and a range on controlled drugs for medical
research, said on Wednesday that it was on track to submit a regulatory
application for the world's first non-smoked prescription cannabis-based
medicine in this year's first quarter.

Unveiling GW's preliminary full-year results, executive chairman Geoffrey
Guy said positive results from four Phase III trials in multiple sclerosis
and neuropathic pain had taken GW a step closer to the product's launch.

The treatment is now scheduled for launch in 2003, rather than the
originally scheduled 2004.

For the full year, GW said it posted a net loss of £11.2m - in line with
expectations - and that it had net cash of £20.2m at the year-end.

In mid-afternoon trading, shares in GW were down 2 per cent at 172p.

 

 

 

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