The figures have come out and the chief FDA-supported drug-using cannabidiol has exceeded even the most hopeful anticipations, as stated by the chief executive officer, Mr. Justin Gover of GW Pharmaceuticals.
The British centered pharmaceutical organization recently broadcasted their quarterly and annual revenues for the year 2019, which almost summed to $103.9 million and $295.9 million, correspondingly. It is an unbelievable inauguration time for any medicine which I believe shows that this type of drug is actually helping the patients recover, mentioned Justin Gover in an interview with CNBC’s Jim Cramer regarding the Epidiolex. He further mentioned, it demonstrates actual worth to the health-care industry, and I believe it places us in a very fine position for what must be yet another successful year for us in 2020.
The major active component of Epidiolex is cannabidiol –which is used to cure extreme and infrequent types of epilepsy, Lennox-Gastaut syndrome, and Dravet syndrome. In 2018 the Food and Drug Administration of the United States permitted Epidiolex and it has by then been used for medical testing in 28 European states and also in Japan.
We do anticipate seeing the first European medicines to come out in Germany, the United Kingdom, and France and then also in Spain and Italy, followed by the rest of 23 states.
It is a new way to cure epilepsy. We are evidently curing a lot of severe cases, mainly in children. They have numerous appropriations in a day, mentioned Justin Gover. Further adding, the capacity to provide an actual improvement in this beneficial zone, along with the point that this is the first-ever cannabis product accepted by the FDA, has, in my opinion, shaped an extraordinary situation for us to sell this product.
After this statement, stocks of GW pharmacy increased by nearly 2%.