Saturday, April 30, 2005

Cannabis drug approval buoys firm

Shares in GW Pharmaceuticals rose nearly 9.5% after the UK biotech firm's prescription cannabis drug was approved for use in Canada.

Sativex is used to treat the central nervous system and alleviate the symptoms of multiple sclerosis (MS).

The Salisbury-based company said this was the world's first approval of a medicine derived from cannabis.

Delays in development of the product - its first to come to the market - has hit GW's stock price in the past.

Source BBC News

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