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'Renewed Sense Of Hope': GW Pharma CEO Talks Epilepsy Drug Approval In Europe

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Jayson Derrick
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Cannabinoid-based drug maker GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) CEO Justin Gover told CNBC's Jim Cramer the company's approval to market Epidiolex across Europe is a "historic milestone" for the field of cannabinoid science.

European Approval

Epidiolex is the only CBD-approved treatment for childhood-onset epilepsy, and its products will be introduced to 28 countries across Europe in the coming years, Gover said during a "Mad Money" interview Tuesday.
This follows a "great experience" in the U.S. where the company helps thousands of patients, he said.

Awareness of its medication in Europe is "as high as any" for a medication in a pre-launch environment, but more important than awareness is the reality that GW Pharma offers a treatment that is "desperately needed," Gover said.

Prior to GW Pharma's existence, the parents of children who suffer with epilepsy were left in a state of "hopelessness," the CEO said.

"What Epidiolex has provided is a renewed sense of hope."

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Debunking The Bear Thesis

Analysts at SVB Leerink highlighted in a note a scenario in which Epidiolex sales in the upcoming quarter could slow due to fewer new patient starts, Cramer said.

When asked to respond, the CEO said the company saw "amazing" performance in the first half of 2019, and added that he's confident the momentum can be sustained throughout the rest of 2019 and beyond from growing worldwide exposure.

"There are a lot of reasons to be optimistic and few to be pessimistic right now," he said.

Epidiolex's approval has opened a potential pipeline for new usages, and the biggest dilemma management faces is which of the "numerous" treatments should be prioritized, Gover said.

"It's very realistic to expect a range of new first-in-class treatments based of cannabinoids across a range of disease areas," he said. "And we are the company to make that happen."

GW Pharma shares were up 1.3% at $120.20 at the time of publication Wednesday.

Related Links:

UK NHS Says Epidiolex Too Expensive, GW Pharma Says Company 'Remains Hopeful'

Teva Dips Into Medical Marijuana Market With Canndoc Distribution Deal

Photo courtesy of GW Pharma.

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