Bayer AG erschließt neues Geschäftsfeld

verfasst von Bob, 06.11.2003, 10:12

-->Bayer and GW extend cannabis drug deal to Canada

LONDON, Nov 6 (Reuters) - British biotech firm GW Pharmaceuticals Plc, the developer of a cannabis-based pain-relief drug, said on Thursday it had signed an agreement with Germany's Bayer (Xetra: 575200.DE - news) to market the medicine in Canada.

GW said the deal with Bayer, which had already bought exclusive British marketing rights to the drug, was worth up to 7.75 million pounds ($13 million), plus a significant share of drug sale revenues.

GW's Sativex, which is sprayed in the mouth, is being assessed by Britain's medicines regulator, and GW said it had begun talks with the Canadian equivalent.

Shares in GW lifted on the news, gaining 4.5 percent by 0850 GMT to 209.5p, valuing the firm at about 236 million pounds.

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• Bayer AG erschließt neues Geschäftsfeld - Bob, 06.11.2003, 10:12