Canada approves GW Pharma cannabis drug
Tue Apr 19, 2005 06:48 AM ET
LONDON, April 19 (Reuters) - GW Pharmaceuticals Plc's cannabis-based medicine Sativex has been approved in its first market, Canada, the British biotechnology company said on Tuesday.
The go-ahead had been expected after Canadian regulators said last December that Sativex qualified to be considered for approval, but the news still boosted GW shares by 12 percent, reflecting the importance of the product to the firm.
The medicine, which is designed to help patients with multiple sclerosis and is administered by means of a spray into the mouth, will be marketed in Canada by Germany's Bayer AG.
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