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.
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