GW Pharma expects fiscal 2020 sales to reach $526 million

United Kingdom-based GW Pharmaceuticals expects to report annual sales of roughly $526 million for the year ended Dec. 31, 2020, the company said in a preview of its fourth-quarter and full-year results.

Fourth-quarter net sales will be approximately $148 million, based on preliminary unaudited financial information, GW said.

Epidiolex, the company’s most successful product, accounts for most of the revenue.

Sales of Epidiolex are expected to be around $144 million for the quarter, comprising $129 million in the United States and $15 million outside the U.S.

The company said total sales of Epidiolex for the fiscal year are expected to be approximately $510 million, 41% more than in 2019.

Cash and cash equivalents as of Dec. 31, 2020, were roughly $486 million.

“Our goals in 2021 include driving further Epidiolex growth and advancing multiple US pivotal trials for nabiximols in the treatment of MS spasticity, with the first data readout expected this year,” CEO Justin Gover said in the release.

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

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