Morgan Stanley analyst David Lebowitz noted that the FDA approved GW Pharmaceuticals' cannabis-based Epidiolex for the treatment of two ultra rare forms of epilepsy on June 25 and the Drug Enforcement Agency rescheduling of the therapy to allow medicinal use was expected to take place within 90 days, or by about September 23. He sees the U.S. launch being "imminent," pending the rescheduling, and said it will be a catalyst for GW Pharmaceuticals given that Epidiolex is the first FDA approved cannabinoid-based therapy. The analyst, who sees the drug being a blockbuster with off label use driving $1.3B in sales by 2025, reiterates his Overweight rating and $197 price target on GW Pharmaceuticals shares.