Drugs firm hails success as losses increase

A British company that develops cannabis-based medicines today said one of its drugs had been successful in treating multiple sclerosis as it posted slightly higher half-year losses.

GW Pharmaceuticals said tests had shown Sativex had significantly improved treatment of spasticity, or spasms and stiffness – one of the most common symptoms of MS.

The group said trials of the drug on 189 sufferers of MS had had an impact “over and above” that of the patients’ existing treatments.

GW said the UK regulatory approval process for Sativex was making progress as it announced net losses for the six months to March 31 of £6.9m (€10.4m), against £6.7m (€10.1m) last time.

Executive chairman Dr Geoffrey Guy said a string of positive trials had left the company with no doubts about the value of its cannabis-based drugs.

“I’m confident our continuing focus on the lead research programmes will ensure GW remains well-placed to deliver excellent value growth in the coming years,” Dr Guy said.