GW Pharmaceuticals PLC (NASDAQ:GWPH) Q3 2019 Earnings Conference Call Transcript

Nov 05, 2019 • 04:30 pm ET

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GW Pharmaceuticals PLC (NASDAQ:GWPH) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen thank you for your patience. The conference has now resumed. Please go ahead.

Executive
Stephen D. Schultz

Yes welcome all of you. This is Steve Schultz Vice President of Investor Relations. Thank you for joining us for this third quarter results call. I apologize for what you just heard which was actually a recording of our last quarter conference call which for some reason they started playing versus us providing this quarter's results. So we'll reset and begin right now with the third quarter results conference call.

Today I'm joined by Justin Gover GW's Chief Executive Officer; Darren Cline U.S. Chief Commercial Officer; Chris Tovey our Chief Operating Officer; Dr. Volker Knappertz our Chief Medical Officer; and Scott Giacobello our Chief Financial Officer. We hope you've had a chance to review our press release issued a short while ago. We expect to file our Form 10-Q tomorrow. As a reminder during today's call we'll be making certain forward-looking statements.

These statements reflect GW's current expectations regarding future events including but not limited to statements regarding financial performance clinical and regulatory activities patent applications timing of product launches and statements relating to market acceptance and commercial potential. Forward-looking statements involve risks and uncertainties and actual events could differ materially from those projected herein. A list and description of risks and uncertainties associated within an investment in GW can be found in the company's filings with the U.S. Securities and Exchange Commission.

These forward-looking statements speak only as of today's date November 5 2019. Finally an archive of today's call will be posted to the GW website in the Investor Relations section. I now turn the call over to Justin Gover GW's Chief Executive Officer.

Executive
Justin D. Gover

Thank you Steve and welcome to all those who've joined us today. We're once again pleased to report continued Epidiolex growth in the U.S. with sales in the first three quarters of the year totaling $188 million including $86 million in this most recent quarter. We are proud of the success of the launch to date and our experience suggests that Epidiolex has all the characteristics necessary to be a blockbuster brand.

We see a medicine that is in high demand by patients warmly welcomed by physicians and that payers recognize as providing meaningful value. Beyond the U.S. we are now starting to commercialize Epidiolex in selected major European countries and looking into 2020 we look forward to adding a new indication of tuberous sclerosis complex around mid-next year. In a moment Darren will provide more details on the U.S. commercial opportunity as it moves into its second year.

I've also asked Chris Tovey to review the European launch status. Understandably in the Epidiolex launch year there has been focus on commercial performance but it is important to remind investors that GW is a platform company with an exciting pipeline which is going to be the subject of investment in 2020. Volker Knappertz will review the pipeline with you later on this call. Finally on this call Scott Giacobello