GW Pharmaceuticals CEO Justin Gover said Wednesday that more education is needed on the health benefits that drugs derived from cannabis can provide.
“We’re really at the beginning of this journey” for marijuana-derived drugs, Gover told CNBC’s Jim Cramer on “Mad Money. ” “There’s certainly education to do around explaining what the medicine does, how it works, the types of patients for whom it can benefit.”
The company’s medicine, Epidiolex, is the only drug derived from cannabidiol to gain approval from the Food and Drug Administration.
The drug, which is designed to combat seizures in children with severe epilepsy, does not contain THC and does not give patients any psychoactive effects. The company said more than 12,000 patients have received prescriptions for the medicine since it launched.
The biopharmaceutical company reported late last month second-quarter earnings that beat Wall Street’s expectations. Epidiolex reported U.S. net sales of $68.4 million in the quarter.
Gover said in an earnings release that the strong results reflect high demand for U.S. patients.
When asked by Cramer how the company has been able produce such success compared to other companies, Gover said, “This is not a product that emerged quickly.”
“GW is 20 years in the making,” he continued. “What it has required is real rigorous science, science around safety of CBD. … None of that is simple.”
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