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The threat of increasing competition for GW Pharmaceuticals’ promising epilepsy drug took a toll on investors’ confidence last month.
Following comments from a competitor’s CEO that suggest competition for the company’s epilepsy drug is in the works, shares in GW Pharmaceuticals (NASDAQ:GWPH) tumbled by 17.2% in May, according to S&P Global Market Intelligence.
GW Pharmaceuticals has made a name for itself by pioneering research into the use of marijuana-derived cannabinoids as medicine.
On Aug. 24, 2017, the Nevada Gaming Commission reiterated its stance on prohibiting any association with the recreational marijuana industry.
On Aug. 24, 2017, San Mateo County Narcotics Task Force announced that a series of San Mateo County cannabis raids eradicated 11,400 cannabis plants with a value of approximately $22.8 million.
The possibility of Tennessee medical marijuana legalization has been given new hope with a recent announcement from state lawmakers.
