The cannabis-based drug Sativex, has been discovered for treating symptoms of multiple sclerosis, and has now been approved in Britain on Friday, the same has lifted the GW Pharma's shares by 11pc to a four-year high of
According to the GW Pharma, the drug which shall be sold in Britain by the licensee Bayer which shall cost the National Health Service £125 for a 10 mililitre vial which shall be enough to last for an average patient for 11 days.
The chairman of GW Pharma Dr Geoffrey Guy, voiced that the launch today, is the zenith of eleven years of research. Sativex is extracted from the compounds of marijuana plants. With accordance to the clinical trials Sativex, is sprayed under the tongue, and helps in curtailing the spasticity in multiple sclerosis patients on whom the existing therapies fails to respond properly.
However the Sativex has become the world's first cannabis medicine to bag the regulatory clearance when it was first approved in Canada in 2005 for neuropathic pain, but now the launch of the same in Britain along with other European markets has created a larger sales opportunity.
The approval of Sativex in Britain has shelled out a £10m milestone payment from Bayer.