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
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
