GW Pharmaceuticals plc Announces Third Quarter 2020 Financial Results | Financial Buzz

GW Pharmaceuticals plc Announces Third Quarter 2020 Financial Results

GW Pharmaceuticals plc (NASDAQ: GWPH) has reported third quarter 2020 financial results.  Total revenue for the quarter ended September 30th was USD 137.1 Million.  Q3 net product sales of Epidiolex amounted to USD 132.6 Million.  The company has expanded payer cover as 85 million lives with no/broad prior authorization (+47% YTD).  13 patents were listed in Orange Book as 12 will expire in 2035. 

The company introduced their new botanical cannabinoid pipeline product GW541 as phase 1 trials are underway.  This includes potential targets within field of neuropsychiatry. 

“We are pleased to report strong revenue growth in the 3rd quarter despite the challenges presented by COVID-19. Epidiolex meets a serious unmet need within the field of epilepsy and we expect the product to demonstrate continued strong growth in the months and years ahead. The recent expanded indication for the treatment of seizures associated with TSC has been very well received by patients, clinicians and payers,” stated Justin Gover, GW’s Chief Executive Officer. “We have also now commenced the pivotal Phase 3 program for nabiximols in the treatment of multiple sclerosis spasticity, which provides multiple opportunities for an NDA submission, including as early as next year. Beyond nabiximols, we are advancing several clinical-stage pipeline candidates, including the recent start of a Phase 2 trial in schizophrenia.”