T
The420Guy
Guest
LONDON - UK patients suffering from terminal cancer will soon get the
chance to test cannabis-based medicines if a pioneering British
pharmaceutical company gets its way.
GW Pharmaceuticals, which has a government licence to grow cannabis, said
on Wednesday it was expanding clinical trials to ease the pain of cancer
patients. Trials involving patients with multiple sclerosis and spinal cord
injury had already proved successful, it said.
While cannabis use is illegal, many people in the UK suffering from serious
diseases have long been lobbying for its use for medicinal purposes.
GW said more than 100 patients who have terminal cancer and who are
suffering pain that is not responding to current therapy, will take part in
trials at more than 20 centres throughout the country. Patients will not
actually smoke the drug but use an under-the-tongue spray.
On Wednesday, its shares were trading up 1.3 percent at 116-1/2 pence.
Executive Chairman Geoffrey Guy said this represented a key milestone for
GW since "cannabis-based medecine has the potential to provide considerable
advantages over current medications to cancer patients."
Around 40 percent of cancer sufferers could benefit if the trials were
successful, he added.
At the same time, GW posted pre-tax losses of 7.2 million pounds ($10.4
million) for the year to September 30, widening from losses of 2.3 million
the previous year, largely reflecting planned increases in research and
development and administrative costs.
Despite the losses, Guy said GW was on course to become the first company
in the world to win regulatory approval for prescription cannabis-based
medicines.
"We remain confident of being able to present data to the UK regulatory
authorities in 2003, and -- subject to approval -- bring the first
cannabis-based prescription medicine to market in early 2004," Guy said.
R&D spending increased to 6.6 million pounds from 2.0 million in 2000 and
was set to increase further in 2002, the company said.
GW's share offering was over-subscribed six times when it came to the
market at 180 pence back in the summer, but adverse publicity then brought
it down to a low of just 59-1/2 pence.
The shares picked up after Home Secretary David Blunkett said the
government would allow cannabis to be used for medicinal purposes.
Newshawk: MCAGiraffe
Pubdate: Wed, 16 Jan 2002
Source: Reuters (Wire)
Copyright: 2002 Reuters Limited
Author: Stephen Cunningham
chance to test cannabis-based medicines if a pioneering British
pharmaceutical company gets its way.
GW Pharmaceuticals, which has a government licence to grow cannabis, said
on Wednesday it was expanding clinical trials to ease the pain of cancer
patients. Trials involving patients with multiple sclerosis and spinal cord
injury had already proved successful, it said.
While cannabis use is illegal, many people in the UK suffering from serious
diseases have long been lobbying for its use for medicinal purposes.
GW said more than 100 patients who have terminal cancer and who are
suffering pain that is not responding to current therapy, will take part in
trials at more than 20 centres throughout the country. Patients will not
actually smoke the drug but use an under-the-tongue spray.
On Wednesday, its shares were trading up 1.3 percent at 116-1/2 pence.
Executive Chairman Geoffrey Guy said this represented a key milestone for
GW since "cannabis-based medecine has the potential to provide considerable
advantages over current medications to cancer patients."
Around 40 percent of cancer sufferers could benefit if the trials were
successful, he added.
At the same time, GW posted pre-tax losses of 7.2 million pounds ($10.4
million) for the year to September 30, widening from losses of 2.3 million
the previous year, largely reflecting planned increases in research and
development and administrative costs.
Despite the losses, Guy said GW was on course to become the first company
in the world to win regulatory approval for prescription cannabis-based
medicines.
"We remain confident of being able to present data to the UK regulatory
authorities in 2003, and -- subject to approval -- bring the first
cannabis-based prescription medicine to market in early 2004," Guy said.
R&D spending increased to 6.6 million pounds from 2.0 million in 2000 and
was set to increase further in 2002, the company said.
GW's share offering was over-subscribed six times when it came to the
market at 180 pence back in the summer, but adverse publicity then brought
it down to a low of just 59-1/2 pence.
The shares picked up after Home Secretary David Blunkett said the
government would allow cannabis to be used for medicinal purposes.
Newshawk: MCAGiraffe
Pubdate: Wed, 16 Jan 2002
Source: Reuters (Wire)
Copyright: 2002 Reuters Limited
Author: Stephen Cunningham
