26.02.2019
GW Pharmaceuticals plc Reports Financial Results and Operational Progress for the Quarter Ended December 31, 2018
LONDON and CARLSBAD, Calif., Feb. 26, 2019 (GLOBE NEWSWIRE) — GW Pharmaceuticals plc (NASDAQ: GWPH, GW, the Company or the Group), the world leader in the development and commercialization of cannabinoid prescription medicines, announces financial results for the quarter ended December 31, 2018.
“We are pleased by the high level of physician and patient demand for Epidiolex, and by the number of payors that have already made favorable 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,” stated Justin Gover, GW’s Chief Executive Officer. “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 3 trial in Tuberous Sclerosis Complex, and a number of advances in the pipeline.”
OPERATIONAL HIGHLIGHTS
• Epidiolex® (cannabidiol)
- U.S. launch progressing to plan
– First plant-derived cannabinoid pharmaceutical ever approved by FDA and first ever approved medicine in the U.S. for Dravet syndrome
– Net sales for Nov 1 – Dec 31 launch period of $4.7m
– Approximately 4,500 new patient enrolment forms in first two month selling period
– Over 500 physicians have generated dispensed prescriptions in first two month selling period
– Filled prescription growth trend in January 2019 shows approximately 150 percent growth over December 2018
– Demand coming from major centers of excellence and local epilepsy clinics
– Pharmacy distribution network expanded from initial 5 specialty pharmacies to over 130 distribution points
– Approximately 900 expanded access program and open label extension patients expected to migrate to commercial product by end of Q2 2019 - Rapid and encouraging payor coverage decisions
– Over 80 percent of all commercial lives (145 million) now have a coverage determination with 60 percent of these lives covered with either no Prior Authorization (PA) or PA to label
– 99 percent of State Fee for Service Medicaid lives now have a coverage determination
– Approximately 90 percent of Managed Medicaid lives have a coverage determination
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