With marijuana legalization on the horizon, many pharmaceutical companies are looking to take the natural herb, and turn it into one of their concoctions. Ironically, for British pharmaceutical company GW Pharmaceuticals their attempt at a marijuana drug has failed miserably in clinical trials, causing their stock to tumble by at least 21% this week.
The drug, called Sativex, was being designed as a pain relief medication. However, recent trials discovered that it showed little to no difference than a placebo when tested on patients.
“Although we missed the primary endpoint in this trial, based upon the positive data seen in the Phase II programme, we remain confident in the ability for Sativex to relieve cancer pain in this patient population,” GW Chief Executive Justin Gover said.
Sativex is currently on the market already in 27 different countries, not as a pain reliever, but as an under-the-tongue spray used to treat multiple sclerosis.
Marijuana has a number of beneficial medical uses, however, it is very different than conventional mainstream medicine, so pharmaceutical companies may have a difficult time attempting to package this natural herb in the same way that they do their other products.
However, GW Pharmaceuticals does seem to be a bit more honest and positive than some of the competing corporations in the industry, but many marijuana advocates are still wary of pharmaceutical companies moving in on their favorite herb
In the video below, GW Pharmaceuticals CEO Justin Gover discusses his company’s history of making cannabinoid medications with Pimm Fox on Bloomberg Television’s “Taking Stock.”