CANNABIS DRUGS 'BY 2004'

British drug group GW Pharmaceuticals is confident that the first
cannabis-based drugs will be available on prescription by 2004.

GW, which floated on the London Stock Exchange in June, is the only company
to legally develop and produce cannabis-derived drugs.

It said that research was progressing well, with "phase II" clinical trials
showing patients were receiving benefit and most drugs now entering "phase
III" testing, the "last and most critical stage of development".

Executive chairman Dr Geoffrey Guy added: " We remain confident of being
able to present data to the UK regulatory authorities in 2003, and -
subject to approval - bring the first cannabis-based prescription medicine
to market in early 2004."

Salisbury-based GW is carrying out research into using the illegal drug as
a painkiller for a variety of illnesses, including multiple sclerosis,
spinal cord injuries, cancer and arthritis.

The update came as GW posted an increase in losses for the year to
September 30 - from UKP 2.3 million to UKP 7.2m - after a hike in R&D and
admin costs.

GW is licensed by the Government and last October, Home Secretary David
Blunkett said he would recommend that the Medicines Control Agency
authorise medicinal use of cannabis should the trials prove successful.