Epidiolex has a list price of $1,310 per bottle. Photo: GW Pharmaceuticals

Sales of the epilepsy drug Epidiolex hit almost $300 million in 2019, GW Pharmaceuticals reported Tuesday. Sales are expected to surpass a half-billion dollars this year as the drug gains more insurance coverage in Europe.

Why it matters: Epidiolex is the first FDA-approved medication made from a substance in cannabis, and it's starting to take off.

Where things stand: Epidiolex got off the ground in 2018, and more doctors started to prescribe the medicine in 2019. Roughly 60% of patients taking Epidiolex are kids who suffer from rare diseases that cause seizures.

  • New launches in Germany, the U.K., France, Spain and Italy will help almost double Epidiolex sales this year, according to Wall Street analysts.
  • It also doesn't hurt that GW Pharmaceuticals raised the list price of Epidiolex by 6% this past January, from $1,235 per 100 mL bottle to $1,310 — even though nothing about the drug changed.

Go deeper: Pharma starting to see green with cannabis

Go deeper

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 31,467,508 — Total deaths: 967,881— Total recoveries: 21,583,915Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m. ET: 6,890,662 — Total deaths: 200,710 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.
Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

GoodRx prices IPO at $33 per share, valued at $12.7 billion

Illustration: Sarah Grillo/Axios

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday night raised $1.14 billion in its IPO, Axios has learned.

By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.

Updated 2 hours ago - Politics & Policy

House Democrats and Trump admin strike deal to avert government shutdown

House Speaker Nancy Pelosi on Capitol Hill. Photo: Tom Williams/CQ-Roll Call via Getty Images

The House on Tuesday passed legislation to fund the government through Dec. 11, by a vote of 359-57.

Why it matters: The bill will avert a government shutdown when funding expires in eight days. Pelosi and House Majority Leader Steny Hoyer (D-Md.) said earlier that they hoped to hold a vote on the legislation on Tuesday evening.

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