Cannabis firm highly pleased at trial result

[Tom]

BRITAIN’S only licensed producer of cannabis for medicinal use, GW Pharmaceuticals, has reported further positive clinical trial results for its Sativex treatment and said a UK regulatory hearing on the drug was expected within six months.

 

The company also announced it was looking at an eventual launch in the United States, the world’s biggest drug market.

 

The news emerged alongside results showing an in-line net loss of £13.7 million for the year to September 30.

 

Investors in GW have been frustrated by delays in the UK launch of cannabis-based medicine Sativex, with the shares falling by more than half from a mid-2003 high of 264 pence.

 

GW’s under-the-tongue cannabis spray has won qualified approval in Canada for treatment of the symptoms of multiple sclerosis and neuropathic pain, but it is still awaiting a green light in Britain.

 

UK approval is viewed as crucial for the Wiltshire-based firm, as it would open the door to the larger European market.

 

The registration of the medicine has proved more complicated and lengthy than expected, however. UK marketing approval was originally expected by the end of 2003.

 

Executive chairman Geoffrey Guy said the product was proving its worth in more conditions, with new Phase III tests in cancer pain showing 40 per cent of patients achieved a 30 per cent improvement in pain relief.

 

He said: "The clinical results for Sativex have just been going from strength to strength.

 

"We set out five years ago to develop Sativex in three areas - symptom control on multiple sclerosis, neuropathic pain and cancer pain. This latest study gives us a full house in those three areas."

 

Mr Guy added that GW was now preparing to start the lengthy process of applying for approval to sell Sativex in the US.

 

Author:Scotsman.com

Date:Thu 20 Jan 2005

Source:Scotsman.com

Copyright:©2005 Scotsman.com