GW Sets Up Launch of Cannabis Drugs

[boulder]

GW Pharmaceuticals, which has a Home Office licence to produce cannabis-derived medicines, said yesterday that it was on track to launch the first of its products before the end of the year.

 

Geoffrey Guy, executive chairman, said the company hoped to follow up UK approval with similar licences in Continental countries in the near future, but it could be several years before the product is available in the US.

 

"The US likes to go back to first principles," he said. "They want more work and more cost." He said that GW has had discussions with the US drugs regulator, the FDA, and that he was "happy with the way discussions have gone".

 

However, he said the company would need a development partner if it was to launch in the US. "I am not content to allocate GW balance sheet resources to US development," he said.

 

GW's first launch in the UK is likely to be an under-the-tongue spray for treating sufferers from multiple sclerosis and neuropathic pain.

 

Mr Guy said that licensing the cannabis-derived medicine would not require a change in the law, merely to secondary legislation. "Our medicine will need to be scheduled under the Misuse of Drugs Act, like opiates are," he said.

 

At the same time as the drug is being approved by the Medicines Control Agency, it will be looked at by the National Institute for Clinical Excellence to see if it should be provided on the National Health Service.

 

Mr Guy was speaking as the company reported its full-year results. The business reported an increased loss of £12.2m, against £7.2m last year.

 

Mr Guy said this was due to increased research and development as well as further staff costs. "We are a much bigger organisation than we used to be," he said.

 

The company has also just started trials of a new tamper-proof dispenser for methadone, used to treat heroin addiction.

 

This project is backed by the Home Office and aims to prevent the need for "shooting galleries" where addicts are treated under supervision with injected methadone to prevent misuse. GW shares fell 4.5 to 171p.

 

Source: Daily Telegraph (UK)

Author: Rosie Murray-West

Published: January 16, 2003

Copyright: 2003 Telegraph Group Limited

Contact: dtletters@telegraph.co.uk

Website: http://www.telegraph.co.uk/

[Guest Urbanhog]

This project is backed by the Home Office and aims to prevent the need for "shooting galleries" where addicts are treated under supervision with injected methadone to prevent misuse. GW shares fell 4.5 to 171p.

I wonder if it's worth to buy any shares from this company while its at its lowest rates/share prices?

 

I have couple of shares..... in few Australian companies....

 

Might earn some good english pounds for once.... never know....

 

Better look up the company's history and see.....

 

Urbanhog http://www.gamers-forums.com/smilies/contrib/sp/chefico.gif

 

500th

[boulder]

http://www.gwpharm.com/inve_key.html

[Guest Urbanhog]

excellent boulder, thanks again

 

Urbanhog http://www.gamers-forums.com/smilies/contrib/sp/chefico.gif

[boulder]

Check to see if the Brits allow aliens to have shares in their companys?.

[Guest Urbanhog]

Check to see if the Brits allow aliens to have shares in their companys?.

I just checked with my brokers/agents, Aussies are very welcome buy shares in England and anywhere in the world.

 

Mmmm.....

 

Urbanhog http://www.gamers-forums.com/smilies/contrib/sp/chefico.gif