14th Jan 2014 11:26
LONDON (Alliance News) - GW Pharmaceuticals Tuesday said it has signed a deal with Ipsen under which the French company will promote and distribute its multiple sclerosis treatment Sativex in Latin America.
Sativex, a sublingual cannabis extract spray, is already approved in 24 countries, mainly in Europe, as a treatment of spasticity due to multiple sclerosis. GW Pharmaceuticals and Ipsen aim to start regulatory filings in selected countries in Latin America during 2014.
GW will be responsible for commercial product supply to Ipsen. The deal excludes Mexico and the Caribbean.
GW said the rights granted to Ipsen cover spasticity due to MS and also cover a future cancer pain indication.
Financial terms include an upfront payment to GW Pharmaceuticals, regulatory and commercial milestone payments, and a long-term supply price.
The stock was trading at 251.75 pence Tuesday, down 5.25 pence or 2.0%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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