In relation to recent media comments relating to its commercialisation discussions UK company GW Pharmaceuticals said in a statement this week that it has consistently stated its commercial strategy 'to be to enter into partnerships following Phase III trial results in order to secure optimum commercial terms.'
In its preliminary results statement on 15 January 2003, GW announced that, having reported positive results from four Phase III trials, the company is presently in active discussions with a number of pharmaceutical companies regarding the commercialisation of its range of products.
According to the company these discussions are continuing as planned and there have been no events since the company's recent announcements which alter the target timescales for concluding GW's first commercial partnership arrangement.
GW is reacting to media reports this week that suggest the company has been dealt a serious blow to its plans to pioneer the use of cannabis-derived medicines after GlaxoSmithKline, the world's second-largest drugs company, abandoned talks on a possible deal.
But GW stressed today that it remains on trackto sign its first commercial arrangements during the first half of 2003, asindicated throughout last year.
Subject to regulatoryapproval, GW aims to launch its first product in the UK towards the end of 2003.