GW Pharmaceuticals has been given a lift after German authorities gave the thumbs up to its multiple sclerosis drug Sativex.
The firm, and its partner Almirall, claim Savitex can help treat moderate to severe spasticity in patients with MS.
The German drug regulators agree, although they say there is only "a minor added benefit".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We are pleased by the positive decision of the G-BA, which recognises that Sativex has an important role to play in meeting the needs of patients with spasticity due to multiple sclerosism," said Farid Taha, Managing Director of Almirall Hermal GmbH.
"Whilst the G-BA has defined the benefit as minor, we believe that Sativex offers a substantial benefit to patients and we now look forward to the meeting with the pricing authorities as the next step in this process."
GW's stock was up 2.7% at 8:42.
BS
-
The top stocks in the FTSE 100After a year of strong returns for the UK’s flagship index, which FTSE 100 stocks have posted the best performance in 2024?
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
