Multi-billion dollar cannabis drug company GW Pharmaceuticals is set to launch its Epidiolex drug in five European countries after a successful first quarter of sales in the U.S.
The U.K.-based company has also cheered investors by announcing successful trials of the CBD isolate drug for patients suffering from a rare epileptic condition. And, concerns that Epidiolex prescriptions could be curtailed by competition from cheaper, off-the-shelf CBD products, have been dismissed by a leading analyst.
During the first quarter, which ended March 31, GW brought in $39.2 million in revenue, it reported in results to the Nasdaq. Epidiolex, which is the first medicine derived entirely from the cannabis plant to gain Food and Drug Administration approval, generated $33.5 million of that in the U.S. It was also recently approved for clinical trials in Japan.
Positive epilepsy trial result
It is used for the treatment of epileptic seizures associated
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