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The420Guy
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Shares in GW Pharmaceuticals rose more than 3 per cent on Thursday after
the UK group announced it was expanding late-stage clinical trials of its
cannabis-based medicines.
The new trials, which will involve about 600 patients, supplement the phase
three trials already in progress, including the use of cannabis medicines
for multiple sclerosis, cancer and nerve damage pain.
"The start of four new phase three clinical trials heralds the achievement
of another key milestone in our progress towards first regulatory
submission for our products," said Geoffrey Guy, executive chairman.
The company is aiming to make its first submission for approval of the
medicine, which is administered by means of an under-the-tongue spray, next
year.
Although the UK government has recently softened its stance on personal use
of the drug in some parts of London, possession of the drug remains illegal
in the UK.
GW, which has been given a special licence to grow cannabis, said the
government had indicated that it would amend the Misuse of Drugs Act to
allow the prescribing of cannabis-based medicines, once the product had
been licenced.
The group's shares rose 4p, or 3.2 per cent, to reach 130p shortly after
the announcement before falling back to 126.5p by midday in London.
Pubdate: Thu, 11 Apr 2002
Source: Financial Times (UK)
Copyright: The Financial Times Limited 2002
Contact: letters.editor@ft.com
Website: Financial Times
the UK group announced it was expanding late-stage clinical trials of its
cannabis-based medicines.
The new trials, which will involve about 600 patients, supplement the phase
three trials already in progress, including the use of cannabis medicines
for multiple sclerosis, cancer and nerve damage pain.
"The start of four new phase three clinical trials heralds the achievement
of another key milestone in our progress towards first regulatory
submission for our products," said Geoffrey Guy, executive chairman.
The company is aiming to make its first submission for approval of the
medicine, which is administered by means of an under-the-tongue spray, next
year.
Although the UK government has recently softened its stance on personal use
of the drug in some parts of London, possession of the drug remains illegal
in the UK.
GW, which has been given a special licence to grow cannabis, said the
government had indicated that it would amend the Misuse of Drugs Act to
allow the prescribing of cannabis-based medicines, once the product had
been licenced.
The group's shares rose 4p, or 3.2 per cent, to reach 130p shortly after
the announcement before falling back to 126.5p by midday in London.
Pubdate: Thu, 11 Apr 2002
Source: Financial Times (UK)
Copyright: The Financial Times Limited 2002
Contact: letters.editor@ft.com
Website: Financial Times