GW Pharmaceuticals plc (GWPH) 2011年年度报告「NASDAQ」.pdf

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1、Annual Report and Accounts2011DiabetesEpilepsycontinuing our journeyCancerMultiple Sclerosis2011 has marked the start of a new era for GW as we benefit from Sativex launches and sales growth,whilst maintaining investment in research anddevelopment to drive further growthand value creation.This is th

2、e story of our year.Contents01 Highlights 2011 02 Chairmans Statement04 The Commercialisation of Sativex06 A Valuable Pipeline 08 Expert Recognition10 Managing Directors Review16 Finance Directors Review20 Board of Directors22 Directors Report 25 Chairmans Corporate Governance Report 28 Directors Re

3、muneration Report33 Statement of Directors Responsibilities 34 Independent Auditors Report36 Consolidated Income Statement37 Statement of Changes in Equity38 Balance Sheets39 Cash Flow Statements40 Notes to the Financial StatementsGW Pharmaceuticals plcAnnual Report and Accounts 2011+59%Sativex sale

4、s have increased by 59%in the last year.Cannabinoid PlatformGW is a recognised world leader in cannabinoid science and is progressing a pipeline of new cannabinoid medicines across a range of therapeutic areas.SativexSativex,GWs novel first-in-class treatment for the treatment of Multiple Sclerosis

5、spasticity,is administered as an oro-mucosal spray.10Sativex is now approved and/or recommended for approval in 10 countries.CancerGlobal Phase III trials are under way to extend the use of Sativex to treat cancer pain.In addition,other cannabinoids demonstrate highly promising anti-cancer effects i

6、n pre-clinical studies.DiabetesA series of Phase IIa trials are under way to evaluate GW cannabinoids as treatments for type 2 diabetes and metabolic syndrome.EpilepsyHighly promising pre-clinical data for GW cannabinoids in the field of epilepsy are being generated under a research collaboration wi