UK. Legal medical marijuana medicines create a buzz among medical researchers
GW Pharmaceuticals became famous when they created a cannabis plant extract which is sold legally as an oral spray and initially targeted at MS (Multiple sclerosis) sufferers. Despite slow initial sales and criticism of their pricing policy they have report a strong 2012 sales result. So far sales through their partners have doubled from £5 million in 2011 to £10million in 2012. Anecdotal evidence suggests that sales would increase more rapidly still if Sativex could be priced more competitively.
It is interesting to note that GW see a big future for Sativex in cancer pain relief, and it is fascinating to see that they are investigating cannabinoid medicines for use in diabetes as well. We will hear much more about this in coming years
Chairman Geoffrey Guy made the following comments,
“In addition, we are now undertaking our largest ever clinical programme to expand the market opportunity for Sativex beyond multiple sclerosis to cancer pain.
“This programme comprises three global Phase III cancer pain trials and is fully funded by our partner, Otsuka. Importantly, success in this indication is intended to lead to our first commercial launch in the US market.
“Our strong financial position allows us to invest in advancing our product pipeline and we are encouraged by the positive data reported today from our first Phase II trial for GWP42004, a novel cannabinoid drug candidate, in type 2 diabetes. We look forward to progressing this and other early stage clinical programmes in 2013.”
December 3rd 2012