Executive Summary
GW Pharmaceuticals PLC is licensed by the UK Home Office to work with a range of controlled drugs for medical research purposes. The Group's lead programme is the development of a product portfolio of non-smoked prescription medicines derived from cannabis, including SativexT?, to meet patient needs in a wide range of therapeutic indications. The Group has also expanded its research to include the use of other controlled drugs in conjunction with its proprietary secure drug dispensing technology. GW's lead product, SativexT?, was approved by Health Canada in April 2005 for the relief of neuropathic pain in Multiple Sclerosis (MS) and was launched in Canada in June 2005 by Bayer HealthCare who will exclusively market SativexT? in Canada. GW maintains control over all aspects of the product development process - botanical research, cultivation, extraction, formulation into drug delivery technologies, clinical trials and regulatory affairs. With a view to encouraging exploratory research and identifying future product opportunities, GW established in March 2002 a separate division called the Cannabinoid Research Institute or ???CRI???. The CRI aims to link industry and academia in conducting exploratory research which it is hoped will lead to the identification of new indications for cannabis-based medicines and greater understanding of the mechanism of action of cannabinoids. GW has also developed a novel, secure and tamper-proof means of dispensing drugs. The technology is called the Advanced Dispensing System (ADS) and provides high levels of security for dispensing drugs, whilst also enabling clinicians to remotely monitor and, if required, remotely control drug usage in real time. In October 2003, ADS won the AiM Stock Exchange ???Best Technology??? Award.
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