Had a phone call today from a "company" claiming to be called DT Consultants in NY acting for client building stake in GWP to take it over. Led the guy on to waste his time. Same story as last time they tried it (see post by me many moons ago). They say they'll pay a multiple of current price as client now has 40+ of stock so they are making offer to private investors to help them tip the balance. If you bite, they make you sign a confidentiality agreement and use various means to persuade you to transfer shares to them, plus a sum to guarantee bona fides. You then never see the shares or money again.
I'm sure you folk are too sophisticated to fall for this, but just in case, be warned it's a scam.
In the end I asked the caller if he knew what proportion of GWP was held by institutions. He floundered. I told him there probably weren't enough private investors to fit in with his scenario, which was clearly *******s, especially after the powerfully underwritten Nasdaq float. I invited him to f*** off.
GW Pharmaceuticals Announces Agreement on Sativex(R) Pricing in Germany
London, UK; 23 September 2013: GW Pharmaceuticals plc (AIM: GWP, Nasdaq: GWPH, "GW") announced today that agreement for a revised mutually-acceptable reimbursement price for Sativex(R) has been reached between Almirall S.A., GW's commercial partner in Germany, and the German National Association of Statutory Health Insurance Funds (GKV-SV). This new agreement has resulted in an increase to the previously reduced price imposed by the German authorities in March 2013 which Almirall had considered to be unacceptable.
"We are pleased to have a positive outcome to discussions that result in an acceptable reimbursement price for Sativex(R) in Germany, Europe's largest potential market for Sativex(R). This agreement ensures that people suffering from Multiple Sclerosis spasticity in Germany will have long-term access to this important medicine," stated Justin Gover, GW's Chief Executive Officer.
It is estimated that approximately 4,000 patients are currently being treated with Sativex(R) in Germany.
"Almirall is committed to meeting the needs of MS patients and this is the reason we have been determined over recent months to achieve an appropriate resolution of the reimbursement price in Germany," said Farid Taha, General Manager of Almirall Hermal Company. "Sativex(R) represents an important advance in the symptomatic treatment of MS spasticity and this new agreement provides doctors and patients in Germany with the necessary assurance that Sativex(R) represents not only a recognised therapeutic benefit, but will also be available on prescription for the long-term."
The full text of the joint announcement issued by Almirall and the GKV-SV is below. (NOTE: the following press release is translated into English for the convenience of the reader. Some variation may have occurred in this translation.)
Reimbursement amount for therapeutic agent for MS agreed upon
Berlin, 23 September 2013 - The pharmaceutical company Almirall Hermal GmbH and the National Association of Statutory Health Insurance Funds agreed on 23 September 2013 on a reimbursement amount for the medicine Sativex(R).
Sativex(R) is approved as an add-on therapy for the alleviation of symptoms in patients with moderate to severe spasticity due to multiple sclerosis who have not responded adequately to other anti-spasticity medications. This is the first medication based on two cannabinoids - delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD). These plant-derived cannabinoids are able to modulate the body's own cannabinoid system, which leads to improved regulation of nerve impulse in responders. This in turn leads to a decrease in spasticity. The basis for the negotiations was the decision on benefit assessment by the Joint Federal Committee dated 21 June 2012, in which the medication was said to show indications of a slight added be
Drug developer GW Pharmaceuticals (LON:GWP) has started to trial its GWP42006 compound for the treatment of epilepsy.
In conjunction with the University of Reading, the group has been researching the treatment of epilepsy for the past five years, leading the group to develop a number of pre-clinical trial candidate compounds, of which GWP42006 is said to look the most promising.
The GWP42006 compound has been extracted from parts of the cannabis plant, which is said to have shown ability in treating seizures with fewer side effects than current epilepsy medication.
Epilepsy is estimated to affect 50 million people worldwide, including 2.2 million people in the US alone. Drug therapy remains ineffective for seizure control in up to 30 per cent of patients because the drugs do not control the seizures or the patients cannot tolerate the side effects.
The first phase of the trial will begin imminently, with the dosage being administered to humans for the first time.
Shares in GW Pharmaceuticals were trading at 71.5p this morning, valuing the company at £124.5 million. Follow Growth Company on Twitter
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