WEBVTT - GW's Gover on Cannabis-Derived Drug for Rare Epilepsy (Audio)

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<v Speaker 1>I'm Charlie Pelad. Oracle is reporting sales that topped analysts

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<v Speaker 1>and crude oil down at dollar eighty three of barrel

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<v Speaker 1>eighteen on West Texas Intermediate. That was a drop today

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<v Speaker 1>of three point eight percent. I'm Charlie Pellett, and that's

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<v Speaker 1>a Bloomberg Business flash. You're listening to Taking the Stock

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<v Speaker 1>with Kathleen Hayes and Pim Fox on Bloomberg Radio. The

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<v Speaker 1>marijuana industry is on a hyperbolic upswing in the United States,

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<v Speaker 1>starting with medical marijuana legalized a few years ago, and

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<v Speaker 1>now more states even legalizing recreational marijuana. But do you

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<v Speaker 1>know that one of the leaders of the cannabis industry

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<v Speaker 1>is a British pharmaceutical company that was founded in which

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<v Speaker 1>trades on the nasdack and has a very successful drug

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<v Speaker 1>that is used to treat multiple sclerosis in twenty seven

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<v Speaker 1>countries outside of the United States. We're joined now by

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<v Speaker 1>Justin Gober, he's CEO of GW Pharmaceuticals, joining us from Carlsbad, California,

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<v Speaker 1>the US opera ration of this company, which is headquartered

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<v Speaker 1>in the u k. Justin welcome. Thank you very much

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<v Speaker 1>for having me on your show today. So, I think

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<v Speaker 1>alat of people don't realize that cannabis has been used

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<v Speaker 1>in research and developing drugs for a long time. How

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<v Speaker 1>did GW Pharmaceuticals get into this? So, as you mentioned

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<v Speaker 1>in your introduction, we we set up g W Pharmaceuticals

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<v Speaker 1>back in the UK in order to separate out, if

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<v Speaker 1>you will, the the controversies around cannabis marijuana and their

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<v Speaker 1>potential medicinal properties or recreational properties, and look to research

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<v Speaker 1>specifically into the science underlining molecules in the cannabis plant

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<v Speaker 1>and to identify potential new therapeutic options and development as

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<v Speaker 1>bona fide prescription medicines according to the FDA process. So

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<v Speaker 1>this was a thesis that we developed back in the

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<v Speaker 1>UK in the late nineties. It's something that we're proud

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<v Speaker 1>to have conducted exclusively for the last eighteen years. As

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<v Speaker 1>you mentioned, we have a drug approved in Europe to

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<v Speaker 1>treat multiple sclerosis and now are moving our operations gradually

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<v Speaker 1>towards the United States as we focus our research increasingly

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<v Speaker 1>on the epilepsy um disease area. Justin would it be

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<v Speaker 1>accurate to use an analogy that aspirin was first derived

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<v Speaker 1>from the bark of the willow tree, So there's something

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<v Speaker 1>in nature that can be harnessed in order to produce

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<v Speaker 1>a medical outcome. Well, indeed, for for thousands of years, indeed,

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<v Speaker 1>most most medicines were plant plant derived and indeed, even

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<v Speaker 1>in the last fifty years, medicines such as aspirin, indeed,

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<v Speaker 1>opiates are another example. Are are examples of areas where

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<v Speaker 1>plants have formed the source material for molecules which are

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<v Speaker 1>then subsequently developed as prescription medications. And in a way,

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<v Speaker 1>it's surprising that the cannabis has not been subjected to

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<v Speaker 1>this kind of research over the last fifty one years.

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<v Speaker 1>So we are gw feel that that we've taken on

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<v Speaker 1>a logical and what should be relatively uncontroversial role in

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<v Speaker 1>identifying real science here and providing data on safety and

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<v Speaker 1>efficacy around specific molecules in the cannabis plant which may

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<v Speaker 1>ultimately have important therapeutic therapeutic uses. We'll tell us more

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<v Speaker 1>about your specific drugs and what they do, because again

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<v Speaker 1>you're already having lots of success in your work for

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<v Speaker 1>multiple sclerosis. And then of course there's epilepsy. Yes, So

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<v Speaker 1>so the research we've been carrying out over the last

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<v Speaker 1>eighteen years has generally focused on diseases of the central

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<v Speaker 1>nervous system, and there's no doubt that our most important

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<v Speaker 1>research at the present time, particularly in the United States,

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<v Speaker 1>relates to the field of childhood epilepsy. There are a

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<v Speaker 1>number of very challenging, difficult to treat, sometimes rare conditions

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<v Speaker 1>suffered by children with epilepsy for which there's little or

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<v Speaker 1>no approved medication. So so we've developed a formulation of

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<v Speaker 1>a molecule called cannabi dial or CBD. And what's interesting

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<v Speaker 1>about CBD is it's it's a non psychoactive component of

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<v Speaker 1>the cannabis plant, so it doesn't make you high. It's

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<v Speaker 1>not sought after by recreational users of cannabis. But we're

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<v Speaker 1>we've been able to develop and manufacturer of formulation of

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<v Speaker 1>this pure compound, manufactured it to pharmaceutical standards, and have

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<v Speaker 1>been researching it in the United States now for the

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<v Speaker 1>last few years. And indeed, in March, we announced positive

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<v Speaker 1>results from a a late stage phase three trial in

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<v Speaker 1>a condition called Drava syndrome, which is a rare and

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<v Speaker 1>sadly catastrophic form of childhood epilepsy. And just to reiterate

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<v Speaker 1>using a one, if you could tell us what happened

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<v Speaker 1>in March of this year, because it's certainly sent your

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<v Speaker 1>stark flying. It certainly did, and and and I think

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<v Speaker 1>that the stock price reflects what what a momentous event

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<v Speaker 1>it really was. Both for our company, I think, for

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<v Speaker 1>the field of cannabinoid science and hopefully of course for

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<v Speaker 1>the for the arena of childhood epilepsy as well. And

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<v Speaker 1>the trial result that was reported in March was the

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<v Speaker 1>first of a small number of late stage phase three

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<v Speaker 1>trials which have which are being conducted in order to

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<v Speaker 1>allow us to provide a regulatory submission to the FDA

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<v Speaker 1>to seek approval for this medication we call it EPIDIALECTS,

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<v Speaker 1>and this trial was the first ever large scale placebo

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<v Speaker 1>controlled evidence of our drug having efficacy in this patient population.

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<v Speaker 1>We we in fact have been evaluating this this men

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<v Speaker 1>cation um in it in what's called a compassionate use

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<v Speaker 1>program in the United States for the last two and

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<v Speaker 1>a half years. There are several hundred children taking the

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<v Speaker 1>drug on prescription right now. But this data in March

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<v Speaker 1>was the first formal placebo controlled data to emerge and

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<v Speaker 1>as such allows us to plan forward towards the prospect

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<v Speaker 1>of making a submission to the FDA and hence the

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<v Speaker 1>stock price reaction. Thank you very much for joining us.

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<v Speaker 1>Justin gober He is the chief executive of GW Pharmaceuticals.

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<v Speaker 1>Stock symbol is g w p h chairs have risen

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<v Speaker 1>twe so far this year. You're listening to Bloomberg Radio.

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<v Speaker 1>Coming up on Bloomberg Radio, Bloomberg Law legal expert June

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<v Speaker 1>Grasso will cover another one of the big legal issues

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<v Speaker 1>of the day, inside and out right here on Bloomberg Radio.