GW Pharmaceuticals expects a regulatory decision on the use of its cannabis-based Sativex treatment by the end of the year or early in 2010. The company has submitted successful phase III trial results for Sativex in patients with multiple sclerosis (MS).
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The study tested Sativex's efficacy in treating the muscle spasticity associated with MS. A green light for the product would trigger milestone payments totalling £12.5m from development partners Almirall and Bayer Healthcare. The group's first half results this week reported a £4.03m pre-tax profit - mainly reflecting an £8m milestone payment from Almirall. GW also boasts an £11.8m cash pile.
