RNS Number : 6161E
GW Pharmaceuticals PLC
11 April 2011



GW Signs Exclusive Licence Agreement to Commercialise Sativex in Australia, Asia, Middle-East and Africa



Porton Down, UK; 11 April 2011: GW Pharmaceuticals plc (AIM:GWP) today announces that it has entered into an exclusive licence agreement for Novartis Pharma AG to commercialise Sativex in Australia and New Zealand, Asia (excluding Japan, China and Hong Kong), Middle East (excluding Israel/Palestine) and Africa.



Under the terms of the agreement, Novartis will have exclusive commercialisation rights to Sativex and will also be responsible for regulatory filings and act as Marketing Authorisation holder for Sativex. GW will be responsible for the manufacture and supply of Sativex to Novartis.



Sativex has been developed as a treatment for spasticity due to Multiple Sclerosis (MS). It is anticipated that regulatory filings for Sativex in MS will begin in some of the countries in the above region during 2011. Sativex is also in Phase III clinical development for the treatment of cancer pain.



Under the agreement, GW will receive an upfront payment of $5 million and will be eligible for additional payments totaling $28.75 million upon the achievement of certain approval and commercial milestones. In addition, GW will receive royalties on net sales of Sativex.



Justin Gover, GW's Managing Director, said, "We are delighted to have entered into this agreement with Novartis. As one of the world's leading pharmaceutical companies with a strategic focus in both MS and oncology, Novartis represents an excellent commercial partner for Sativex in these important and growing international markets."



Sativex is licensed to Otsuka Pharmaceutical Co. Ltd in the United States, to Almirall S.A. in Europe (excluding the United Kingdom), to Bayer HealthCare AG in the UK and Canada, and to Neopharm Group in Israel/Palestine.

Have been sitting on these since 2007 at 102 p/s without doing anything. Maybe at last patience is being rewarded. Just a few more approvals in other geographical areas and this can fly big time

ive been in this since about 2002..got stung bigtime when it hit 40p ish...time it went the other way for a change