[Payaso]

This story is about medical cannabis use, but perhaps should be in the business section. Why? Because the drug companies are salivating over the profits they will make from Sativex, and don't seem to give a damn about the patient. Why shouldn't sufferers be allowed to use nature's remedy?

And what's this line about them being a "small drugmaker." GW Pharmaceuticals is HUGE.

GW Pharmaceuticals Plc's (GWP.L) cannabis-derived medicine Sativex has been approved in Britain for treating spasticity in patients with multiple sclerosis, in a landmark decision for the small drugmaker.

The much-delayed product was finally granted a British licence on Thursday, an official from the Medicines and Healthcare products Regulatory Agency (MHRA) told Reuters on Friday.

The company later issued a statement confirming the move.

Clinical trials have shown GW's Sativex, which is sprayed under the tongue, reduces spasticity in multiple sclerosis (MS) in patients who do not respond adequately to existing therapies.

It became the world's first cannabis medicine to win regulatory clearance when it was approved in Canada in 2005 for neuropathic pain but its roll-out in Britain -- and other European markets thereafter -- is a larger sales opportunity.

GW and Germany's Bayer (BAYGn.DE), which will market the drug in Britain, plan to hold a press conference on Sativex on June 21.

A green light from the MHRA had been expected before the end of June but confirmation of approval will still be a relief to investors, who have seen a series of delays with the product.

Shares in the company jumped 11 percent to a four-year high of 143 pence on the news by 1400 GMT.

GW had originally hoped to win approval in 2003 for its drug -- which is extracted from marijuana plants grown at secret locations in the English countryside -- but the medicine has been hit by a string of regulatory delays in Europe.

GW said last month it also expected a regulatory green light in Spain shortly after the British approval, with other European countries following later.

Sativex will be sold in the rest of Europe outside Britain by Spanish drugmaker Almirall (ALM.MC).

GW will receive a 10 million pounds ($15 million) milestone payment from Bayer as a result of British approval, while a further 2.5 million pounds is payable by Almirall following both regulatory and pricing approval in Spain.

WILL NHS PAY FOR IT?

Questions remain about Sativex's commercial potential.

In particular, the rate of uptake in Britain will likely be limited until the National Institute for Health and Clinical Excellence (NICE) decides whether it should be reimbursed on the National Health Service (NHS).

Analysts at Piper Jaffray, which acts as adviser to GW, forecast that peak sales in MS spasticity could reach 121 million pounds in Europe and Canada combined.

The drug could also be used longer-term to help treat cancer pain worldwide, opening up a market opportunity potentially worth over $500 million in annual sales, according to the brokerage. However, marketing approval for this second use is not expected before 2013.

Shawn Manning, an analyst at Singer Capital Markets, said a green light for cancer pain in the United States would be a major commercial breakthrough.

"That's a real opportunity, that will be the big market -- that's the real target for this product," he said. ($1 = 0.6743 pound) (Additional reporting by Paul Sandle; editing by David Cowell)

Nice post Payaso!

[jjblunt]

I cannot decide if this is good news or bad news.

What pisses me off it these companies are basically selling cannabis, just in another form, more like a tincture. So what is the difference between GW pharma and a street dealer? NOTHING!

Just shows us yet again, big pharma knows the benefits of cannabis as medicine, and are now exploiting it for massive profit, all while keeping it illegal for the consumer to grow/possess themselves. How come they are not being arrested for cultivation, processing, intent to sell? I guess big pharma is above the law.

[smokeymacpot]

jjblunt, they have a licence from the home office to produce it for medical research blah blah
its a good thing that is being recognised as having medicinal benefit, it may or may not pave the way for eventual licencing for medicinal canabis. no one knows. but at least with that fat twat gordon brown no longer PM, theres a better chance it will happen.

[Hrpuffnkush]

Congrats!! Sam and Robert !

[PoopyTeaBags]

it makes me sick that they will allow cannabis extracts as medicines and call it medicine but cannabis has no medical value...

im scared to have them recreate a cannabis drug... then cannabis WILL DEFINITELY be ILLEGAL forever

this is truly disturbing. Poopy Tea Bags is right, once big pharma starts feeling the dollars rolling in from canna 'medicines', the prohibition will increase...they have been at it now since the 30's, you dont think that when they are just getting their prize, their gonna let up on us? No way they will ever allow us to cultivate our meds in our flower gardens, and eliminate their profits.

Fuck em all

Sativex and Marinol have been approved for use n the USA for ages. Doctors won't prescribe them much though.

[MJBadger]

What pisses me off it these companies are basically selling cannabis, just in another form, more like a tincture. So what is the difference between GW pharma and a street dealer? NOTHING!


Yes but it`s been happening for many years in the States , how many people out there with there medical cards pay a fortune for their cannabis meds from the dispenceries ? & how many recieve good grade meds ?
Again it`s the big companies rubbing their hands over the $ sign.

[Scrogerman]

Sativex has been being issued to certain patience in the UK for at least a year that i know of, good thread! lets hope one day they stop all the bullshit n let the masses use it medically for minor ailments like in the US. Untill then we'll all have to stay legal piss heads & fuck our livers up, legally! lol!