GW PHARMACEUTICALS PLC (NASDAQ:GWPH) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of Assets.
On April 5, 2019, GW Research Ltd., the principal research subsidiary of GW Pharmaceuticals plc (the “Company”), satisfied the closing conditions contained in the previously announced priority review voucher (PRV) Transfer Agreement with Biohaven Pharmaceutical Holding Ltd. The transaction closed on the same day and the Company received the cash proceeds of $105 million.
About GW PHARMACEUTICALS PLC (NASDAQ:GWPH)
GW Pharmaceuticals plc is involved in the development of cannabinoid prescription medicines using botanical extracts derived from the Cannabis Sativa plant. The Company develops a portfolio of cannabinoid medicines, including Epidiolex, which is an oral medicine for the treatment of refractory childhood epilepsies. The Company operates through three segments: Commercial, Sativex Research and Development (Sativex R&D), and Pipeline Research and Development. The Commercial segment distributes and sells the Company’s commercial products. The Sativex R&D segment seeks to maximize the potential of Sativex through the development of indications. The Sativex R&D segment focuses on the Phase III clinical development program of Sativex for use in the treatment of cancer pain. The Pipeline Research and Development segment seeks to develop cannabinoid medications other than Sativex across a range of therapeutic areas using the Company’s cannabinoid technology platform.
