'Cannabis painkiller drugs by summer'

CANNABIS-based painkillers could be available on prescription as soon as this summer, said drugs developer GW Pharmaceuticals.

It will be a world first for the Wiltshire group, which grows cannabis plants at three secret locations. GW should get UK regulatory approval for its Sativex drug in the second quarter, slightly later than planned.

The drug will be used for multiple sclerosis and nerve damage pain.

Managing director Justin Gover said: 'This will be the first modern prescription medicine derived from cannabis, although it has been used as a tincture for 5,000 years.'

GW has a marketing deal with Bayer, which will pay it £14m when UK approval comes through. GW also hopes to get clearance to use Sativex in Europe and Canada, but admits that the US will take longer.

Annual losses reduced to £9.6m from £12.1m due to a £5m fee from Bayer.