Cannabis-based treatment Savitex on sale to help MS patients
Date: 07/05/2010
A cannabis-based treatment for multiple sclerosis patients will cost the health service about £11 a day per person, the product's developer, GW Pharmaceuticals, said today.
After 11 years of development, GW's Sativex treatment for spasticity in MS patients is being launched as a prescription-only medicine by its licensee Bayer Schering after gaining UK approval last week. Savitex will be priced at £125 for a 10ml vial, enough to last about 11 days.
Geoffrey Guy, GW's chairman, said: "The approval and launch of Sativex in the UK is the world's first full approval of a cannabis-derived prescription medicine." He said the move marked "the beginning of the company's transition from late stage development company to a commercial pharmaceutical business".
GW will receive a £10m milestone payment from Bayer and is hoping for approval in Spain shortly, with further European submissions expected this year. But GW's shares fell 9p to 132p. With the government planning cost cuts in the budget – when even the NHS may not be spared – analysts were cautious on the UK prospects for the treatment.
KBC Peel Hunt kept its buy recommendation, but said its view of the UK potential was at the bottom end of its expectations. Paul Cuddon, an analyst, said: "[This news] demonstrates that cannabinoid-based therapeutics are approvable and can provide a meaningful clinical benefit for patients no longer responding to gold-standard therapy. [But] the company has disclosed more details on the potential UK opportunity; this sits at the lower end of our expectations."
Shawn Manning at Singer Capital Markets downgraded the company from buy to fair value, and was cautious on the sales potential in Europe, saying the development of the product for cancer pain would be key to the company's progress. dollars) ou 30 jours de prison pour possession de marijuana.
