You are right....This is right from the CBIS website
Whole Cannabis Pharmaceutical Products on the Market Today
GW has entered into agreement with the German pharmaceutical firm Bayer Healthcare for marketing Sativex® in the UK. This agreement provided GW with millions of dollars in licensing fees and operating capital.
In February of last year, GW Pharmaceuticals sold the rights to develop and market Sativex® for cancer pain in the US to Japanese firm Otsuka Pharmaceutical. Otsuka paid GW a signature fee of $18 million, and may pay up to $273 million in royalties and fees. In addition, Otsuka will bear the costs of all US development activities for Sativex® in the treatment of cancer pain, additional indications, and future formulations. GW and Otsuka will jointly oversee all US clinical development and regulatory activities.
Clearly, Otsuka's willingness to contemplate paying up to a quarter of a billion dollars in royalties and fees for one cannabis-based pharmaceutical with a less than overwhelming efficacy profile indicates that the total market for medical cannabis products is a multi-billion prospect. According to Investec Securities, GW's broker, Sativex® could have peak annual sales of $390m.
Also, in 2005 GW and the Spanish pharmaceutical company Almirall Prodesfarma, S.A. ("Almirall") announced that they had entered into an exclusive agreement for Almirall to market Sativex® in Europe (excluding the UK) Almiral paid GW a "$12 million signature fee." (approx $20 million at present exchange rates.)
