GW Pharmaceuticals has announced its financial results for the quarter ended December 31, 2018, reporting revenue growth of 67.5%, with total revenue of $6.65 million for the quarter.
Sales of expected blockbuster Epidiolex, which last year became the first cannabis-based drug approved by the Food and Drug Administration (FDA), amounted to $4.7 million between November 1 and December 31.
Justin Gover, GW’s chief executive officer, commented: “We are pleased by the high level of physician and patient demand for Epidiolex, and by the number of payors that have already made favourable coverage determinations for the product.
"With US launch taking place part way through the quarter, the two month selling period at the end of 2018 was primarily aimed at setting the commercial wheels in motion for the 2019 launch year. As we move into the New Year, prescription growth trajectory has been highly encouraging and we believe that we are on track to deliver a successful market introduction of this important new treatment."
He went to say: “In addition to the US launch, we look forward to a positive regulatory decision in Europe in the next few months, results of a Phase III trial in Tuberous Sclerosis Complex, and a number of advances in the pipeline.”