“Exceptional” 2019 for medical cannabis producer

GW Pharmaceuticals plc saw revenues for its core cannabidiol product, Epidiolex, soar during the final quarter to US$104.5m, with revenues for the year standing at US$296.4m since its launch in early 2019.

Epidiolex has become a key entrant to the global cannabis market, having been launched in the US and gaining approval in Europe – including NICE recommendation in the UK – within its first few months, and plans are in place for further launches following ongoing trials.

GW – a fast-growing leader in the science, development, and commercialisation of cannabinoid prescription medicines, which was founded in 1998 – also announced ambitious plans for development of its product portfolio, while growing the presence of Epidiolex in Europe.

While much was planned for 2020, it is not yet known how the Coronavirus pandemic will impact on initial timescales.

Justin Gover, GW’s chief executive, said: “2019 was an exceptional and transformative year for GW, led by the successful launch of Epidiolex in the US and approval in Europe. The positive impact this medicine has had on thousands of patients and their families provides a compelling foundation for continued growth in 2020.

“We also expect 2020 to be an important year for our growing and developing product pipeline beyond Epidiolex as we build on our world leadership in cannabinoid science.

“We are focused on advancing nabiximols in the US in several indications and clinical programs with other potential products whilst continuing to bring Epidiolex to more patients in the US and Europe.”