Jim Finnel
Fallen Cannabis Warrior & Ex News Moderator
Sales of cannabis-derived, multiple sclerosis treatment Sativex boosted earnings and profits for GW Pharmaceuticals, the U.K.-based company said today.
Sativex sales increased to £1.9 million ($3.1 million) in the six months ending March 31, up from £900,000 in the comparable period last year, according to a statement.
Total revenue increased by approximately 45% to £16.6 million, versus £11.4 million for the same six months in 2010. Net profit before tax for the period was £3.1 million, compared to a loss of £2.7 million last year.
GW mentioned in the statement receiving regulatory approval in several countries and the prospect of broader acceptance through a license agreement with Novartis. The company is also developing cannabis treatment for diabetes and metabolic disease.
NewsHawk: Jim Behr: 420 MAGAZINE
Source: mjbusinessreport.com
Copyright: 2011 DealFlow Media, Inc.
Contact: Contact DealFlow Media
Website: Sativex Boosts GW Pharmaceuticals' Earnings
Sativex sales increased to £1.9 million ($3.1 million) in the six months ending March 31, up from £900,000 in the comparable period last year, according to a statement.
Total revenue increased by approximately 45% to £16.6 million, versus £11.4 million for the same six months in 2010. Net profit before tax for the period was £3.1 million, compared to a loss of £2.7 million last year.
GW mentioned in the statement receiving regulatory approval in several countries and the prospect of broader acceptance through a license agreement with Novartis. The company is also developing cannabis treatment for diabetes and metabolic disease.
NewsHawk: Jim Behr: 420 MAGAZINE
Source: mjbusinessreport.com
Copyright: 2011 DealFlow Media, Inc.
Contact: Contact DealFlow Media
Website: Sativex Boosts GW Pharmaceuticals' Earnings
