24 October 2001
SHARES in cannabis extract developer
GW Pharmaceuticals rose 15% to 109p, a gain of 14p, after Tuesday's announcement
by Home Secretary David Blunkett that he intends to reclassify the drug
and allow its use as a painkiller.
GW provides extracts from cannabis
that give relief to patients suffering from multiple sclerosis, cancer,
arthritis and other serious medical conditions. Its executive chairman
Dr Geoffrey Guy said: 'We are delighted that the Home Secretary continues
to recognise the potential importance of these medicines for patients.'
GW is in Phase III clinical trials
of drugs based on cannabis extract and is on course to make its first submission
to the Medicines Controls Agency in 2003. Doctors will be able to prescribe
its drugs to patients if the agency approves them and Blunkett legalises
such a move. GW's products avoid the harmful effects of smoking the drug.
© Associated Newspapers Ltd.