Drug enforcement agency gives green light to Epidiolex

The US Drug Enforcement Administration (DEA) has given the nod for GW Pharmaceuticals (Nasdaq: GWPH) to retail its cannabis-based therapy Epidiolex (cannabidiol), just three months after it was approved by the US regulator.

There had been concerns over a delay, and uncertainty over the outcome of the DEA review, necessary due to the fact that cannabis is a federally controlled substance. The positive outcome sent shares in the UK-based firm soaring 7% on the Nasdaq, as the DEA gave its least restrictive scheduling on the drug.

GW said the drug would now be available within six weeks. In August, the cannabidiol specialist said it would charge around $32,500 per year for the oral therapy for certain forms of epilepsy, in the USA, a price that is comparable with other epilepsy products on the market.