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Cannabis Campaigners' Guide News Database result:
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UK: GW Pharma set to launch cannabis-based drug
David Firn, Pharmaceuticals and Chemicals Correspondent The Financial Times
Wednesday 21 Jan 2004 GW Pharmaceuticals said it was ready to launch its first cannabis-based medicine after announcing a narrowing loss for the year on Wednesday. The UK biotechnology company expects UK regulators to make a decision on whether it can begin selling Sativex, a purified cannabis extract for multiple sclerosis patients, during the second quarter of 2004. GW, which is developing a range of cannabis extracts to treat MS, rheumatoid arthritis, pain and other neurological diseases, signed a marketing agreement with Bayer, the German pharmaceuticals and chemicals group, last year. GW said it planned to begin clinical trials to diabetic neuropathy and Crohn's disease. Pre-tax losses for the year to September 30 were down from UKP12.2m ($22.3m) to UKP9.6m. Turnover was UKP5m, thanks to a fee from Bayer, that could be followed by a further UKP20m in milestone fees if Sativex performs well. Turnover was zero in 2002. The loss per share was 7.8p from 11.6p last time. GW shares, which have underperformed the UK biotechnology sector by 9.5 per cent over the past 12 months, were up 1.5 per cent to 198.5p in early afternoon trade on Wednesday. --=======DD03546=======--
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