U.K. drug maker GW Pharmaceuticals PLC said it has signed a license deal with Novartis AG to commercialize its cannabis-based multiple sclerosis treatment Sativex in a range of markets including Australia, parts of Asia and Africa.
Under the agreement, GW will get an upfront payment of $5 million and receive a further $28.75 million dependent on certain approvals and commercial milestones.
Novartis will have exclusive rights to sell Sativex in Australia; New Zealand; Asia, excluding Japan and China; the Middle East, excluding Israel; and Africa. Regulatory filings for the treatment will be submitted in some of these regions during 2011, GW said.... Read More - http://www.msrc.co.uk/index.cfm/fuseact ... ageid/1814