GW Pharma announces sale of priority review voucher for $105 million

Ciara Linnane - finance.yahoo.com Posted 5 years ago

GW Pharmaceuticals Plc said Monday it is selling its Rare Pediatric Disease Priority Review Voucher for $105 million. The company, which was the first to receive U.S. Food and Drug Administration approval for a cannabis-based drug, received the PRV when it was developing that treatment called Epidiolex, which treats seizures associated with two types of rare childhood epilepsy. The PRV program aims to encourage companies to invest in R&D for rare pediatric diseases. The buyer is entitled to a priority, expedited review, with the aim of helping to bring drugs to market that treat rare diseases. "The sale of the PRV provides an important source of non-dilutive capital to help advance our pipeline and to continue to invest in the EPIDIOLEX commercial launch in both the U.S. and Europe," GW Pharma Chief Executive Justin Gover said in a statement. Shares were not yet active premarket, but have gained 42.5% in the last 12 months, while the S&P 500 has gained 2.6%.

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