GW Pharma and Novartis Ink Sativex Deal
GW Pharma will receive an upfront payment of $5m and further payments totalling $28.75m.
GW Pharma has signed a licence agreement with Novartis to commercialise cannabis-based multiple sclerosis treatment Sativex in the Australian, Asian and African markets.
According to the deal, Novartis will gain exclusivity to sell the drug in Australia, New Zealand, Africa, Asia and the Middle East, excluding Japan, China and Israel. In return, GW Pharma will receive an upfront payment of $5m and further payments totalling $28.75m dependent on approvals and milestones.
Sativex has already achieved regulatory approval in some European markets and is currently in Phase III clinical trials in the US, where it is licensed to Otsuka as a cancer pain medication.
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