GW Pharmaceuticals added 19p to 177 1/2p after broker Evolution Beeson Gregory repeated 'buy' advice, and told clients that recent falls had been overdone.

It expects regulatory approval early next year for Sativex, GW's treatment for multiple sclerosis, which it saw boosting shares by up to 50%.

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Which is an interesting contrast to the last news we heard about Sativex from the company itself on November 28, 2003:

"GW Pharmaceuticals have warned investors that their new drug Sativex may yet have to wait until next autumn for approval from the government's medicines regulator. The news is a blow not only to GW but also to Multiple Sclerosis sufferers who have long been campaigning to be allowed to use a cannabis drug to relieve their symptoms. Trial data has shown that Sativex is an effective treatment for bladder problems and muscle stiffness but GW has also applied for approval for the drug to treat neuropathic pain. It is this issue where the drug's approval has stumbled. Neuropathic pain, pain caused by a diseased or damaged nervous system, is widely viewed as impossible to treat so such an indication would be a massive breakthrough for GW. Unfortunately the MHRA are likely to ask for more trials next year before they give such a groundbreaking approval.

A spokesman for GW said "The process is continuing as expected. There is a month to go and we are confident of getting approval. We have always said the timing was going to be in the hands of the regulator"."

(source)