Interim Results For The Six Months Ended 31 March 2007

OPERATIONAL HIGHLIGHTS

• Qualifying Notice for approval of Sativex in the relief of cancer pain received from Health Canada (announced separately today)
• Sativex US licence agreement signed with Otsuka, including $18m signature fee, additional milestone payments up to $255m as well as a significant long term commercial supply price and royalty
• Discussions at an advanced stage with Otsuka to enter into global cannabinoid research collaboration in the field of CNS and cancer treatment
• Positive discussions with FDA on US development programme - first large scale US clinical trial in cancer pain due to start during summer 2007
• European regulatory application process ongoing for Sativex in the relief of MS Spasticity
• THCV, a potential treatment for obesity and metabolic disorders, enters Phase I clinical trials

FINANCIAL HIGHLIGHTS

• Net loss for the period of £6.7m (2006: £6.9m), in line with expectations
• Cash and short term deposits at 31 March 2007 of £21.9m
• Net cash inflow for period of £2.0m

Dr Geoffrey Guy , GW's Chairman, said: “ The first half of the year has been one of considerable progress, notably in respect of our activities in North America . The Sativex US licence agreement with Otsuka is a significant achievement and serves to validate further the potential of this important new medicine. In Canada , we are pleased to have announced today further regulatory success with receipt of the Qualifying Notice for the approval of Sativex for the relief of cancer pain. Today's news is important not only for Canada , but also for our prospects in the US , where cancer pain represents the lead target indication.

“In the second half of the year, we look forward to the start of our first large scale US clinical trial, to be fully funded by Otsuka, and the approval and launch of the cancer pain indication in Canada . In addition, the European regulatory submission for Sativex in MS spasticity is expected to conclude. We also expect to sign a global cannabinoid research collaboration with Otsuka and to see progress of early stage programmes under this arrangement, as well as progress with the early clinical development of THCV as a potential treatment for obesity and related metabolic disorders. ”

An analyst presentation of the interim results is being held today at 09.30 at Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London WC2A 1PB. Please contact Gemma Cross Brown at Financial Dynamics on +44 20 7269 7125 for details. An audio webcast of the presentation will be available on GW’s website at www.gwpharm.com later this afternoon.