I think this approval by Sweden knocks on the head an earlier post that some sort of anti-legalisation conspiracy is sabotaging this share. Sweden has one of the toughest prohibition regimes in the world as far the control of illicit substances is concerned, certainly the toughest in Europe. Any notion that Sativex is the thin end of a drug-legalisation wedge is now proven to be complete tosh. Long term holders of this stock should ignore the current fluctuations and continue looking north.
Justin Gover, GW's Managing Director, said, "We are very pleased to announce the approval of Sativex® in Sweden. Sativex® addresses a significant unmet need for people with multiple sclerosis and we look forward to the launch of this important medicine in Sweden next year."
Sativex®, which has been developed by GW Pharmaceuticals, is also in phase III clinical development for the treatment of cancer pain, as the next indication following MS spasticity. Almirall holds the marketing rights to this medicine in Europe (except the United Kingdom).
Sativex® approved in Sweden for the treatment of spasticity due to Multiple Sclerosis (MS)
Porton Down, UK; 22nd December 2011: GW Pharmaceuticals plc (AIM:GWP) today announced that the Medical Products Agency in Sweden has granted regulatory approval for Sativex® (Delta-9-Tetrahydro-cannabinol (THC) and Cannabidiol (CBD)) oromucosal spray as a treatment of moderate to severe spasticity due to MS in patients who have not responded adequately to other anti-spasticity medicationi. Sativex® is a first in class endocannabinoid system modulator and is currently available in the UK, Germany, Spain and Denmark.
Evidence generated from clinical trials shows that Sativex® has a positive impact on spasticity in multiple sclerosis, while alleviating associated symptoms including pain, bladder or sleep disturbance. By relieving the symptoms of MS, Sativex® can improve patients' quality of life and allow them greater independence in performing their daily activitiesii.
The launch of Sativex® in Sweden is expected to take place during the first half of 2012 following completion of the national pricing and reimbursement process. Sativex® will be marketed in Sweden by GW's marketing partner, Almirall S.A.
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