GW Pharma and Almirall extend Sativex deal to Mexico
UK-based GW Pharmaceuticals (AIM: GWP) announces that it has signed an amendment to its cannabis-based drug Sativex licence agreement with Spanish drug major Almirall (ALM: MC). As part of the revised agreement, Almirall has been granted rights to market Sativex in Mexico and GW will receive a new near term milestone payment of 12 million euros ($15.7 million).
Under the terms of the original licence agreement signed in December 2005, Almirall was granted exclusive rights to market Sativex in Europe (excluding the UK). With Sativex now approved and launched by Almirall in certain European countries and with further launches planned, GW and Almirall have revisited the financial terms in order to optimize the agreement to best suit the current strategic interests of both companies.
GW will reduce supply price
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