GW Pharmaceuticals (GWPH) stock recently skyrocketed after European officials voiced a positive view on its CBD oil treatments.
In large, the spike has been caused by the Committee for Medicinal Product’s full approval of CBD oil as a treatment for various conditions. The CHMP opinion is a key step toward approval from the European Medicines Agency.
“We continue to see significant demand in Europe for (CBD oil), as patient and physician interest around cannabidiol (CBD) has extended across the pond,” he said. “However, we would expect a much slower ramp in Europe, as the launch will be country by country because of reimbursement issues, as usual.”
In the U.S., the CBD oil seizure treatment runs for $1,235 per 100-milliliter bottle. That translates to about $32,500 per year. The biotech company is aiming to price Epidyolex at about 70% of that, Goodman said.
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