Ananda Pharma, a leading player in pharmaceutical cannabis research in the United Kingdom, has announced the addition of Chris Tovey, the former Chief Operating Officer of GW Pharmaceuticals and Jazz Pharmaceuticals, to its team. Tovey will initially serve as an advisor, with the possibility of advancing to a director position in the future. This move is significant for Ananda, which has a market capitalization of approximately £18.3 million, especially when compared to Jazz Pharmaceuticals’ $6.5 billion valuation.
Tovey expressed his belief that there is “unfinished business in the cannabinoid medicines space” and highlighted that Ananda is the only company he has seen approaching the market in the right manner. He sees immense potential for Ananda to replicate the success achieved at GW Pharmaceuticals by targeting different medical conditions.
Throughout his career in the pharmaceutical industry, Tovey has been instrumental in making cannabis-based medicines accessible to millions of patients across numerous countries. His efforts have played a vital role in establishing these treatments in mainstream healthcare. Tovey was specifically recruited by GW Pharmaceuticals in 2012, a time when the company was preparing for significant expansion. He oversaw operations, manufacturing, supply chain, and market access, contributing to the strategy for GW’s cannabinoid portfolio.
During his tenure, GW Pharmaceuticals achieved a major milestone with Epidyolex, the first plant-derived cannabinoid medicine approved by the United States Food and Drug Administration (FDA) in 2018. Tovey directed the drug development process from clinical trials to regulatory submission. Epidyolex was subsequently approved in Europe for conditions like Lennox-Gastaut Syndrome (LGS) and Dravet Syndrome in 2019, and later for Tuberous Sclerosis Complex (TSC) in 2021.
In the UK, Tovey was also involved in discussions with the Medicines and Healthcare products Regulatory Agency (MHRA) post-Brexit. He played a crucial role in collaborating with the Home Office and the Advisory Council on the Misuse of Drugs (ACMD) to reschedule CBD medicine from a Schedule 2 substance to a Schedule 5 in 2020. This change reduced prescribing restrictions for Epidyolex, facilitating greater patient access.
As COO, Tovey oversaw GW’s global commercial operations, guiding the rollout of Epidyolex in North America and Europe. A key part of his role involved expanding the company’s cultivation and processing capabilities to ensure a steady supply of pharmaceutical-grade CBD to meet growing demand, helping GW become the largest cultivator in the UK.
