cannabisnews.com: GW Cannabis Drug on Path To Approval 





GW Cannabis Drug on Path To Approval 
Posted by CN Staff on December 21, 2004 at 13:50:12 PT
By David Firn 
Source: Financial Times UK
GW Pharmaceuticals came a step closer to launching its cannabis-based pain treatment on Tuesday after Canadian authorities gave it a Qualifying Notice for approval. The notice means health authorities are prepared to let GW sell the drug, subject to continuing studies of the safety and effectiveness of the treatment. 
Geoffrey Guy, chief executive, said Sativex, an oral spray containing purified medicinal cannabis extracts, would be launched next year by its marketing partner Bayer, the German pharmaceuticals and chemicals conglomerate. Cannabis is widely used by multiple sclerosis sufferers. More than 40 per cent of UK sufferers are prepared to break the law to treat their symptoms and many more say they would use it if it were not illegal. But although cannabis is clinically proven to alleviate pain caused by nerve damage in MS, the use of an illegal drug is controversial in most countries. At least 700 Canadians have been given medical permits to possess cannabis since laws were amended in 2001 but plans to legalise cannabis in Canada have yet to be realised, partly because of strong US objections. Mr Guy said Sativex, which delivers a precise dose of two active components of cannabis, offered the benefits without the risks. MS is just the first of a number of uses GW hopes to find for Sativex. This year, the company began developing a rheumatoid arthritis treatment. It will be several years before commercialisation but doctors are keen to get hold of new drugs because of fears that the most widely prescribed class - Cox-2 inhibitors - may increase risk of heart attacks and strokes. GW shares, which fell 24 per cent after UK regulators turned down Sativex requesting further clinical trials, jumped 6½p to 111½p. Sinclair Pharma has licensed the US marketing rights for Atopiclair, its dermatology treatment, to Chester Valley Pharmaceuticals, in a deal that could be worth up to $15m (£7.8m) in milestone payments and a double-digit royalty. Chester Valley was set up this month by Robert Moccia, former executive at Bioglan, a dermatology company, and Xavier Yon, of Galderma, with $75m backing by GTCR Golder Rauner. Source: Financial Times (UK)Author: David Firn Published: December 21, 2004Copyright: The Financial Times Limited 2004Website: http://www.ft.com/Contact: letters.editor ft.comRelated Articles & Web Site:GW Pharmaceuticalshttp://www.gwpharm.com/Canada To Approve UK Cannabis Drughttp://cannabisnews.com/news/thread20050.shtmlCannabis Spray Could Get Canada Launchhttp://cannabisnews.com/news/thread18837.shtmlCanada: GW and Bayer Announce Agreement http://cannabisnews.com/news/thread17741.shtml 
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