GW's FY 2007 income increases to L5.7M

The UK's GW Pharamceuticals says that its full-year 2007 turnover totaled L5.7 million ($11.0 million) versus L2.0 million, as its net loss improved to L10.9 million from L13.3 million, in line with expectations.

Geoffrey Guy, GW's chairman, said: "the formation of our strategic alliance with Otsuka marked 2007 as a transformational year for GW. The US license agreement has secured the future of Sativex in the world's largest pharmaceutical market whilst the global cannabinoid research collaboration has accelerated the development of GW's pipeline of new cannabinoid medicines in the field of central nervous system disorders and oncology." 2008 promises to be an equally eventful year for GW, he noted, with the results of a number of key trials of Sativex, a cannabinoid-based drug for multiple sclerosis-related spasticity, with Phase III data in Europe and the USA due to be reported.