One year after Jazz Pharmaceuticals acquired GW Pharma and its cannabinoid drug Epidiolex for epilepsy, the company is pumping $100 million into a new manufacturing facility 45 miles from London and the Kent Science Park in Sittingbourne.
Jazz Pharmaceuticals plc announced Epidyolex (cannabidiol), developed by GW Pharmaceuticals (GW), a world leader in discovering, developing and delivering regulatory approved cannabis-based medicines, has been recommended by the All Wales Medicines Strategy Group (AWMSG) for use within NHS Wales for adjunctive therapy of seizures associated with tuberous sclerosis complex (TSC), for patients two years of age and older.
GW Pharmaceuticals has announced that is has received approval from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) for its cannabidiol, Epidyolex, as an adjunctive treatment of seizures associated with tuberous sclerosis complex (TSC), for patients aged two years and older.
In May 2013, GW Pharma listed on Nasdaq, selling 3.5 million shares at $8.90 each to investors betting that GW was charting a profitable course as a biotech developing new drugs from cannabis-derived compounds. Legal cannabis was only beginning to gain momentum at that time, and while countless companies saturated the market as would-be growers, distributors, etc., GW was taking a more difficult route of drug development with much greater upside if successful. The strategy paid off as the company received FDA approval for the first-ever cannabis-based drug in June 2018.
NEW YORK, June 29, 2021 /PRNewswire/ -- In May 2013, GW Pharma listed on Nasdaq, selling 3.5 million shares at $8.90 each to investors betting that GW was charting a profitable course as a biotech developing new drugs from cannabis-derived compounds. Legal cannabis was only beginning to gain momentum at that time, and while countless companies saturated the market as would-be growers, distributors, etc., GW was taking a more difficult route of drug development with much greater upside if successful. The strategy paid off as the company received FDA approval for the first-ever cannabis-based drug in June 2018. There are some notable similarities between the evolution of the legal cannabis market a decade ago and the current status of psychedelics, longtime illicit drugs that are now being evaluated for their therapeutic potential by a handful of upstart companies. San Diego-based Tryp Therapeutics Inc. (CSE: TRYP) (OTCQB: TRYPF) (Profile) stands out, not only for its still-small valuation but also because it has a successful management team that, much like GW, is charting its own course in the space. Major investors have not been shy about speculating that biotech is going to produce some psychedelic-derived blockbusters, as evidenced by the attention given to COMPASS Pathways Plc (NASDAQ: CMPS), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD) (NEO: MMED) (DE: MMQ) and newly public ATAI Life Sciences N.V. (NASDAQ: ATAI), any one of which could do for psychedelics what GW Pharma did for cannabis before being acquired in February by Jazz Pharmaceuticals plc (NASDAQ: JAZZ) for $7.2 billion.
LONDON and DUBLIN, April 23, 2021 (GLOBE NEWSWIRE) -- GW Pharmaceuticals Ltd. (Nasdaq: GWPH) (GW) and Jazz Pharmaceuticals, Inc. plc (Nasdaq: JAZZ) (Jazz) today announced that GW’s shareholders voted to approve the acquisition of GW by a subsidiary of Jazz (or its nominee(s)) at the GW shareholder meetings held today. The proposals required to be approved by GW’s shareholders in order to complete the acquisition were each approved. In addition, the non-binding, advisory proposal to approve certain compensation arrangements for GW’s named executive officers was approved. Detailed information regarding the results will be made available by GW in a filing with the U.S. Securities and Exchange Commission (SEC).
GW Pharmaceuticals has received European Commission (EC) approval for the type II variation application for Epidyolex (cannabidiol), as an adjunctive treatment of seizures associated with tuberous sclerosis complex (TSC) for patients two years of age and older.