GW Pharmaceuticals
{{Short description|British pharmaceutics company}}
{{Use British English|date=September 2013}}
{{Use dmy dates|date=August 2017}}
{{Infobox company
| name = GW Pharmaceuticals Limited
| logo = GW Pharmaceuticals logo.svg
| former_name = {{Ubl
| GW Pharmaceuticals Group PLC (2001–2001)
| GW Pharmaceuticals PLC (2001–2021)
}}
| type = Subsidiary
| traded_as = {{NASDAQ was|GWPH}}
| industry = Pharmaceutical industry
| foundation = {{start date and age|1998}}
| founder = {{Ubl
| Geoffrey Guy
| Brian Whittle
}}
| location_country = United Kingdom
| location = Cambridge
| key_people = Justin Gover (CEO)
| products = {{Ubl
| Epidiolex (Epidyolex in Europe)
| Nabiximols (Sativex)
}}
| parent = Jazz Pharmaceuticals
| revenue = {{increase}} $527 million (2020)
| net_income = {{decrease}} -$58 million (2020)
| assets = {{increase}} $939 million (2020)
| equity = {{increase}} $741 million (2020)
| num_employees = 1,161 (2020)
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001351288/000156459021009430/gwph-10k_20201231.htm | title=GW Pharmaceuticals PLC 2020 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
| homepage = {{Official URL}}
}}
GW Pharmaceuticals Limited{{Cite web |date=2001-02-15 |title=GW PHARMACEUTICALS LIMITED overview - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/04160917 |access-date=2023-08-03 |website=Companies House |language=en}} is a British pharmaceutics company known for its multiple sclerosis treatment product nabiximols (brand name, Sativex) which was the first natural cannabis plant derivative to gain market approval in any country.{{cite web| url=https://thechart.blogs.cnn.com/2010/06/21/worlds-first-cannabis-drug-on-sale-in-uk/ | archive-url=https://web.archive.org/web/20120518060909/http://thechart.blogs.cnn.com/2010/06/21/worlds-first-cannabis-drug-on-sale-in-uk/ | url-status=dead | archive-date=18 May 2012 |title=World's first fully approved cannabis drug on sale in UK | first=Elizabeth | last=Landau | work=CNN |date=21 June 2010}} Another cannabis-based product, Epidiolex, was approved for treatment of epilepsy by the US Food and Drug Administration in 2018.{{Cite news | url=https://www.cnn.com/2018/06/25/health/fda-approves-first-cannabis-drug-bn/index.html | title=FDA approves first cannabis-based drug | first1=Debra | last1=Goldschmidt | first2=Susan | last2=Scutti | work=CNN | date=25 June 2018}} It is a subsidiary of Jazz Pharmaceuticals.
History
GW Pharmaceuticals was founded in 1998 by doctors Geoffrey Guy and Brian Whittle. That year, they obtained a cultivation license from the United Kingdom Home Office and the MHRA, allowing the company to cultivate, possess and supply cannabis to conduct scientific research concerning medical cannabis.{{cite book | url=https://books.google.com/books?id=1AWGDhIOvk0C | title=Cannabis in Medical Practice: A Legal, Historical, and Pharmacological Overview of the Therapeutic Use of Marijuana (Google eBook) | via=Google Books | date=July 1997 | isbn=9780786403615 | first=Mary Lynn | last=Mathre }}
Later in 1998, GW Pharmaceuticals entered into a contract with Hortapharm B.V., a cannabis research and development corporation based in Amsterdam.{{cite web |last=Breen |first=Bill | url=https://www.fastcompany.com/48136/cannabis-conundrum |title=The Cannabis Conundrum | work=Fast Company |date=1 February 2004}}{{cite news | last=Breen |first=Bill |url=https://www.fastcompany.com/48172/dr-dopes-connection |title=Dr. Dope's Connection | work=Fast Company |date=1 February 2004}}
In 2001, GW Pharmaceuticals listed on the Alternative Investment Market, the junior market of the London Stock Exchange.{{Cite web |url=https://www.ft.com/content/9d46aeb6-f6f8-11e3-8ed6-00144feabdc0 |title=GW Pharma aims for $150m in Nasdaq offering |website=Financial Times| date=June 18, 2014 | url-access=subscription}} In May 2013, the company became dual-listed on the NASDAQ and AIM.{{Cite news |url=https://www.ibtimes.co.uk/uk-cannabis-grower-high-wall-street-funding-bid-1429980 | title=UK Cannabis Grower on a High With Wall Street Funding Bid |website=International Business Times |date=21 December 2013}}
In 2014, the company made a deal with New York to develop clinical trials using cannabidiol (CBD) to treat children who suffer from seizures and other medical complications.{{Cite news | url=https://www.bizjournals.com/buffalo/news/2014/06/06/cuomo-oks-limited-medical-marijuana-trial-in-nys.html | title=Cuomo OKs limited medical marijuana trial in NYS | first=Tracey | last=Drury | work=American City Business Journals | date=6 June 2014}}
In May 2021, Jazz Pharmaceuticals acquired the company.{{Cite press release | url=https://www.prnewswire.com/news-releases/jazz-pharmaceuticals-completes-acquisition-of-gw-pharmaceuticals-plc-301284512.html | title=Jazz Pharmaceuticals Completes Acquisition of GW Pharmaceuticals plc | publisher=PR Newswire | date=5 May 2021}}{{cite news | url=https://www.bizjournals.com/philadelphia/news/2021/05/05/jazz-gw-acquisition-cannabis.html | title=Jazz Pharmaceuticals shares rise on $7.2B acquisition of cannabis-based drugmaker | first=Ryan | last=Sharrow | work=American City Business Journals | date=5 May 2021}}
Products
=Sativex=
{{Main|Nabiximols}}
Nabiximols (trade name Sativex) is a botanical drug that is a cannabis extract, administered as a mouth spray; it was approved in the UK in 2010 as a treatment for multiple sclerosis (MS) patients to alleviate neuropathic pain, spasticity, overactive bladder, and other symptoms.{{cite news | url=https://www.theguardian.com/business/2011/apr/17/gw-pharmaceuticals-justin-gover-cannabis-sativex-multiple-sclerosis | title=The man who secretly (and legally) grows 20 tonnes of cannabis a year | work=The Guardian | date=April 17, 2011}}
Nabiximols is made with two unknown Cannabis strains, and is extracted with ethanol and carbon dioxide.{{cite web| url=https://patents.google.com/patent/EP1542657A1/en | title=Cannabinoid liquid formulations for mucosal {{as written|amdini|stration [sic]}} | publisher=Google Patents}}
In 2020, GW Pharmaceuticals concluded a partnership with Bayer for the distribution of Sativex in the UK.{{cite press release | url=https://ir.gwpharm.com/news-releases/news-release-details/gw-pharmaceuticals-regains-exclusive-commercialisation-rights | title=GW Pharmaceuticals regains exclusive commercialisation rights to Sativex® (nabiximols) in the UK from Bayer | publisher=GW Pharmaceuticals | date=2 March 2020}} It has an estimated annual production of 100 tons of medicinal cannabis.{{cite AV media |url=https://www.youtube.com/watch?v=-8UmqADV7D0 |title=Medical Cannabis Strains – Geoffrey Guy, MD (GW Pharmaceuticals, UK (Conference) | via=YouTube |date=23 February 2010}}
=Epidiolex=
{{main|Epidiolex}}
In 2015, GW Pharmaceutical initiated Phase 3 clinical trials of cannabidiol oral solution for treatment of two rare disease in children – Dravet syndrome and Lennox–Gastaut syndrome.{{cite news | url=http://www.ft.com/cms/s/0/5b7d988a-795a-11e3-b381-00144feabdc0.html | title=GW raises nearly $90m to develop childhood epilepsy treatment| last=Ward | first=Andrew | work=Financial Times | date=9 January 2014 | url-access=subscription}} In August 2015, GW received FDA Fast Track Development Program designation from the US Food and Drug Administration for use of the drug candidate to treat newborns with epilepsy.{{Cite press release | url=https://www.globenewswire.com/en/news-release/2015/08/06/758426/26153/en/GW-Pharmaceuticals-Receives-FDA-Fast-Track-and-EMA-Orphan-Designations-for-Intravenous-Cannabidiol-in-the-Treatment-of-Neonatal-Hypoxic-Ischemic-Encephalopathy-NHIE.html | title=GW Pharmaceuticals Receives FDA Fast Track and EMA Orphan Designations for Intravenous Cannabidiol in the Treatment of Neonatal Hypoxic-Ischemic Encephalopathy (NHIE) | publisher=GlobeNewswire | date=6 August 2015}}
The drug, under the brand name Epidiolex, was given US Food and Drug Administration approval in June 2018.{{Cite news |url=https://www.statnews.com/2018/06/25/fda-approves-countrys-first-medicine-made-from-marijuana/ |title=FDA approves country's first medicine made from marijuana | work=STAT |date=25 June 2018}}{{cite news | title=UK epilepsy drug to become first cannabis-based medicine in US | first=Julia | last=Kollewe | work=The Guardian |date=25 June 2018 | url=https://www.theguardian.com/business/2018/jun/25/uk-epilepsy-drug-set-to-be-first-cannabis-based-medicine-on-us-market}} It was subsequently given European EMA approval in September 2019 under the brand name Epidyolex.{{Cite web |url=https://www.ema.europa.eu/en/medicines/human/EPAR/epidyolex#authorisation-details-section | title=Epidyolex | date=24 June 2019 | publisher=European Medicines Agency}}{{Cite news |url=https://www.bbc.co.uk/news/health-49795260 | title=Medical cannabis product approved for epilepsy | work=BBC News | date=23 September 2019}}
See also
{{Portal|Cannabis}}
References
{{Reflist}}
External links
- {{Official website}}
- [https://books.google.com/books/about/The_Medicinal_Uses_of_Cannabis_and_Canna.html?id=AznCzOxvrtwC The Medicinal Uses of Cannabis and Cannabinoids]
{{Cannabis in the United Kingdom}}
{{Pharmaceutical industry in the United Kingdom}}
{{Science and technology in the United Kingdom}}
{{Authority control}}
Category:British companies established in 1998
Category:Biotechnology companies established in 1998
Category:Biotechnology companies of the United Kingdom
Category:Pharmaceutical companies
Category:Cannabis in the United Kingdom
Category:Companies formerly listed on the Nasdaq
Category:Medicinal use of cannabis organizations
Category:Pharmaceutical companies established in 1998
Category:Pharmaceutical companies of the United Kingdom
Category:2021 mergers and acquisitions