CAMBRIDGE, United Kingdom and READING, United Kingdom, March 02, 2020 (GLOBE NEWSWIRE) -- GW Pharmaceuticals plc (GW) and Bayer plc, the life science company, today announce that GW will regain exclusive UK commercialisation rights for Sativex® (delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD)) from Bayer.
Sativex, often known by the USAN name nabiximols, is a complex botanical formulation that contains the principal cannabinoids THC and CBD in addition to specific minor cannabinoids and other non-cannabinoid components.1 Nabiximols is indicated in the treatment of spasticity due to multiple sclerosis.
Since it was approved by the Medicines and Healthcare products Regulatory Agency (MHRA) in 2010, Bayer has been responsible for the marketing of nabiximols in the UK. Under the terms of the agreement, there will be a transitional period until 31 December 2020 at which point GW will take over all responsibilities for nabiximols in the UK.
In the interim, Bayer and GW will work closely to ensure a seamless transition for health care professionals and patients, with marketing transferring to GW during 2020. Currently, there is no change to day to day business practices and stakeholders will receive further notification when transfers and operations are expected to take place.
| GW Pharmaceuticals | |
| All investor and media enquiries | publicrelations@gwpharm.com |
| Mike Trace / Ben Atwell, FTI Consulting | +44 (0)203 727 1000 |
| Stephen Schultz, VP Investor Relations, GW | +1 917 280 2424 +1 401 500 6570 |
| Bayer | |
| Karen Tait, Head of PR and Media Relations Bayer UK | karen.tait@bayer.com +44 (0)118 206 3977 |
About GW Pharmaceuticals plc
GW Pharmaceuticals (GW) is a UK-based global biopharmaceutical company that has established a world leading position in cannabinoid science and medicines. Through rigorous scientific investigations and extensive clinical trials, GW’s mission is to unlock the potential of the cannabis plant to transform the lives of seriously ill patients across a broad range of disease areas. Over the last two decades, the Company’s pioneering work and $1bn of R&D investment have led to the regulatory approval of world first, potentially life changing medicines in over 30 countries. For further information, please visit www.gwpharm.com
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.co.uk.
References
- Sativex. Summary of Product Characteristics: https://www.medicines.org.uk/emc/product/602/smpc