GW Pharma expects fiscal 2020 gross sales to access $526 million

United Kingdom-based mostly GW Prescribed drugs expects to report yearly revenue of about $526 million for the year ended Dec. 31, 2020, it claimed in a preview of its fourth quarter and full-calendar year success.

Fourth quarter internet profits will be close to $148 million, based mostly on preliminary unaudited fiscal facts, GW reported in a news launch this 7 days.

Epidiolex, its most profitable item, accounts for most of the profits.

Profits of Epidiolex are envisioned to be all-around $144 million for the quarter, comprising $129 million in the United States and $15 million exterior the U.S.

The enterprise reported total product sales of Epidiolex for the fiscal calendar year are predicted to be approximately $510 million, 41% far more than in 2019.

Income and cash equivalents as of Dec. 31, 2020 ended up around $486 million.

“Our goals in 2021 involve driving even further Epidiolex growth and advancing many US pivotal trials for nabiximols in the procedure of MS spasticity, with the initially data readout predicted this calendar year,” CEO Justin Gover said in the information launch.

GW expects to report its fourth quarter and complete-year results in mid-February.

The company’s shares trade on the Nasdaq as GWPH.