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GW Pharmaceuticals: Receipt of milestone payment.
GW Pharmaceuticals plc (GW) confirms that following its announcement on 23 Nov 2010 that the Phase III clinical trials programme of sativex in cancer pain had been initiated, the first patient was randomised in Europe as anticipated in Dec 2010. As a result and in accordance with the terms of GW's licence agreement with Otsuka Pharmaceutical Co Ltd (Otsuka) GW has received a milestone payment from Otsuka of $4 M. Cancer pain represents the initial target indication for Sativex in the US. Sativex is approved in the UK, Spain, Canada and New Zealand as a treatment for Multiple Sclerosis spasticity. The Phase III cancer pain programme is being performed in conjunction with GW's licensing …
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