GW Pharma expects fiscal 2020 sales to reach $526 million

This story first appeared at Marijuana Business Daily International.

United Kingdom-based GW Pharmaceuticals expects to report annual sales of approximately $526 million for the year ended Dec. 31, 2020, it 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 in a news release this week.

Epidiolex, its 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 approximately $486 million.

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

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