Health and Healthcare
GW Pharma Makes Big Regulatory Step for Cannabidiol in UK
Published:
GW Pharmaceuticals PLC (NASDAQ: GWPH) took a big step forward for the development of its cannabidiol in the United Kingdom. The company announced that the U.K. Home Office has reclassified Epidyolex (cannabidiol) as a Schedule 5 drug.
This change will take effect immediately in all four of the constituent nations of the United Kingdom (with Northern Ireland enacting separate legislation) and sees the medicine move from Schedule 2 to Schedule 5 under the Misuse of Drugs Regulations 2001.
The medicine is approved in the European Union for adjunctive therapy of seizures associated with Lennox Gastaut syndrome or Dravet syndrome, in conjunction with clobazam, for patients from two years of age and older.
The schedule change was recommended by the Advisory Council on the Misuse of Drugs (ACMD) and its Technical Committee to Kit Malthouse MP, Minister of State for Crime and Policing, on January 29, 2020. This followed the submission of a written dossier and oral presentation from the Medicines and Healthcare Regulatory Agency, which drew on the substantial data package developed by GW as part of the medicine’s review and subsequent approval by the regulatory authorities in September 2019.
ACMD cited the “low risk of abuse potential, low risk of dependency and low risk of diversion” as reasons for the reclassification from a Schedule 2 controlled drug to a Schedule 5 controlled drug.
As a result, GW’s medicine is now exempt from virtually all controlled drug requirements.
GW Pharmaceuticals stock traded relatively flat at $125.04 Wednesday morning, in a 52-week range of $67.98 to $180.75. The consensus price target is $188.63.
24/7 Wall St.Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
