GW hits high figures and plots further growth in 2020
GW Pharmaceuticals, a Cambridge company commercialising prescri-ption medicines based on cannabis, is forecasting significant growth for 2020 after ending the year with a thumping set of figures.
Quoted on the US technology market, Nasdaq, GW markets itself as world leader in the science, development, and commercialisation of cannabinoid prescription medicines.
The claim would appear to be supported by preliminary, unaudited net product sales for the fourth quarter and full-year 2019.
CEO Justin Gover also flags up a strong scale-up strategy for 2020. He said: “Our fourth quarter and full year results for 2019 reflect an exceptional launch year for Epidiolex. We are proud of the positive impact this medicine has already had on thousands of patients and believe that this past year provides a compelling foundation for continued success in 2020.
“Our goal in 2020 is not only to continue to drive Epidiolex growth but also to leverage our world leadership in cannabinoid science to advance our pipeline.
“In particular, we see significant market opportunity for nabiximols in several indications in the US and will be progressing multiple late stage clinical programs in 2020.”
The company expects total net product sales to be approximately $108 million for the fourth quarter and approximately $309m for the year ended December 31.
Total net product sales of Epidiolex are expected to be approximately $104m for the fourth quarter and around $296m for the full year. Cash and cash equivalents at December 31 were around $536m. Fourth quarter and full-year 2019 financial results are expected to be reported on February 25.
Founded in 1998, GW is focused on discovering, developing and commercialising novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas.
GW’s lead product, EPIDIOLEX® (cannabidiol) oral solution CV, is commercialised in the US by its US subsidiary Greenwich Biosciences for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age or older.