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Cannabis Campaigners' Guide News Database result:
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UK: A Puff Of White Smoke From GW
ccguide Friday 27 Jun 2003 Pubdate: Thu, 26 Jun 2003 Source: Guardian, The (UK) Copyright: 2003 Guardian Newspapers Limited Contact: Website: http://www.guardian.co.uk/guardian/ Details: http://www.mapinc.org/media/175 Author: Neil Hume Bookmark: http://www.mapinc.org/mmj.htm (Cannabis - Medicinal) A PUFF OF WHITE SMOKE FROM GW If City gossips are to be believed, GW Pharmaceuticals, the company developing painkillers from cannabis, is poised to take advantage of its excellent run to raise cash. According to yesterday's tittle-tattle, the company will attempt to raise UKP20m via a placing of new stock with institutions, which will no doubt be eager to get their hands on GW shares in the light of recent events. This month, Aim-listed GW announced that Bayer, the German drugs group that discovered aspirin, had signed up to sell Sativex - the UK firm's under-the-tongue spray for treating the symptoms of multiple sclerosis and severe neuropathic pain. Traders reckon the shares are likely to be placed at a small discount to yesterday's closing price of 220.5p, up 7p. It is thought GW, whose shares were 100p at the start of the year, will use the cash for general corporate purposes and to give it a stronger bargaining position when it comes to further licensing deals for Sativex and other products. The GW tale provided an interesting diversion for dealers who watched the market trade in a narrow range ahead of the US interest cut, which came well after London closed for business. [Content not related to drug policy snipped for brevity] - --- MAP posted-by: Doc-Hawk
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