Europe Biotechs Aim to Catch Americans as Investors Embrace IPOs
As GW Pharmaceuticals Plc headed toward final-stage testing of a cannabis-based treatment for epilepsy last year, it faced the inevitable question: Should it remain independent or team up with a larger company to develop and market the product?
Chief Executive Officer Justin Gover chose to go it alone, funded by a listing on Nasdaq. The British company's shares have almost doubled since January, giving it a market value of $2.6 billion -- and enough capital to finish developing the drug and sell it via an in-house team.
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