GW Pharmaceuticals’ Epidiolex (GWPH) gains FDA approval for new indication
Yesterday, GW Pharmaceuticals announced that the FDA had approved Epidiolex, a cannabis-derived medication, for a new indication, approving it to treat seizures associated with tuberous sclerosis complex (TSC) in patients one year of age and older. Tuberous sclerosis complex is a genetic disease believed to affect one in 6,000 people. Along with this new indication, the age range has been expanded to include patients one year of age and older who experience seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome. TSC is a rare disease that causes benign tumors to grow in vital organs of the body and is a leading cause of genetic epilepsy
In June 2018, Epidiolex was approved by the FDA for the treatment of seizures associated with LGS and Dravet syndrome, making it the first cannabis-derived drug to gain FDA approval.
GW Pharma CEO Justin Gover said, “This label expansion, including the expansion of the age range in all approved indications, further demonstrates that the FDA process can continue to enable broader patient access to appropriately tested regulatory approved cannabinoid medicines.”
Epidiolex comprises most of GW Pharma’s revenues.
Louisiana law significantly expands qualifying conditions for medical marijuana
Over the weekend, a new Louisana law came into effect which allows physicians to recommend medical marijuana to patients for any ‘debilitating condition’ that they see fit, rather than a limited list of qualifying conditions.
Along with the expansion of the state medical marijuana program, the bill that came into effect this weekend established regulations for hemp and CBD, created protections for financial institutions that could face penalties for servicing marijuana businesses, and granted legal protections for physicians recommending medical marijuana.
Cresco Labs (CRLBF) to open 9th dispensary in Illinois
On their national retail brand’s Facebook page, Cresco Labs announced that the company would be opening a new dispensary in Schaumburg, making it their 9th dispensary in the state.
In April, Cresco completed the expansion of its cultivation facility in Lincoln, IL, the largest in the state, and the first phase of expansion at its Kankakee facility. These expansions add almost 180,000 square feet of additional indoor and greenhouse cultivation space, bringing the total cultivation space to 215,000 square feet across all three of its Illinois facilities. Cresco is the only operator in Illinois that has three cultivation sites with 630,000 square feet of potential canopy space.
