Opiant Pharmaceuticals, Inc. Provides an Update on NARCAN® Nasal Spray
September 15 2017 - 7:00AM
Opiant Pharmaceuticals, Inc. (“Opiant”) (NASDAQ:OPNT), a specialty
pharmaceutical company developing pharmacological treatments for
addictions, today provided an update on NARCAN® Nasal Spray
(“NARCAN”).
NARCAN® Nasal Spray is marketed in the U.S. and
Canada by Opiant’s partner, Adapt Pharma Operations Limited
(“Adapt”). It remains the only U.S. Food and Drug Administration
(FDA) approved nasal naloxone product for the emergency treatment
of opioid overdose. Due to the growing opioid epidemic in the U.S.,
the need for the ready-to-use naloxone market is expanding and is
likely to continue to grow.
Recent highlights of the NARCAN® Nasal Spray
include:
- Surpassing $25 million of net sales for the first half of
calendar 2017, triggering SWK Funding LLC’s obligation to pay
Opiant an additional $3.75 million
- Mandatory co-prescribing of naloxone to patients receiving
opioid prescriptions, who are considered at high risk of opioid
overdose, in Virginia and Vermont
- Recommended co-prescribing of naloxone with opioid painkillers
by both the Centers for Disease Control (CDC) and The Veterans
Administration (VA)
- In over 40 states, NARCAN® Nasal Spray can now be purchased
from pharmacies without a prescription
- Adapt has maintained the price of NARCAN® Nasal Spray,
including a discounted public interest price of $75 per two-dose
pack ($37.50 per dose).
“At a news conference in August 2017, President
Trump declared the opioid crisis a national emergency. Once
formalized, this declaration will allow the executive branch to
mobilize resources toward supplying first responders with
naloxone,” said Roger Crystal, M.D., Chief Executive Officer of
Opiant.
Beyond NARCAN® Nasal Spray, Opiant remains
committed to further innovation and product development in the
addiction market. Opiant’s pipeline of nasal opioid antagonists
address both Alcohol Use Disorder and Eating Disorders. These
represent potentially larger market opportunities, but still allow
a 505(b)(2) regulatory pathway for FDA approval.
Opiant is developing other products for Opioid
Use Disorder, including advancing the pre-clinical development of
its heroin vaccine candidate, which was licensed in October 2016
from the Walter Reed Army Institute of Research and the National
Institute on Drug Abuse (NIDA). Opiant continues to maintain an
active presence in national organizations such as the National
Institutes of Health (NIH), where Dr. Crystal was recently invited
to advise on the development of medications for Opioid Use
Disorder.
About Opiant Pharmaceuticals,
Inc.
Opiant Pharmaceuticals, Inc. is a specialty
pharmaceutical company developing pharmacological treatments for
addictions. NIDA, a division of the NIH, describes these disorders
as chronic relapsing brain diseases which burden society at both
the individual and community levels. With its innovative opioid
antagonist nasal delivery technology, Opiant is positioned to
become a leader in these treatment markets. Its first product,
NARCAN® Nasal Spray, is approved for marketing in the U.S. and
Canada by the company’s partner, Adapt Pharma Operations Limited.
For more information please visit: www.opiant.com.
Forward-Looking Statements
This press release contains forward-looking
statements. These statements relate to future events or our future
financial performance and involve known and unknown risks,
uncertainties and other factors that may cause our or our
industry’s actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed, implied
or inferred by these forward-looking statements. In some cases, you
can identify forward-looking statements by terminology such as
“may,” “will,” “should,” “could,” “would,” “expects,” “plans,”
“intends,” “anticipates,” “believes,” “estimates,” “predicts,”
“projects,” “potential,” or “continue” or the negative of such
terms and other comparable terminology. These statements are only
predictions based on our current expectations and projections about
future events. You should not place undue reliance on these
statements. Actual events or results may differ materially. In
evaluating these statements, you should specifically consider
various factors. These and other factors may cause our actual
results to differ materially from any forward-looking statement. We
undertake no obligation to update any of the forward-looking
statements after the date of this press release to conform those
statements to reflect the occurrence of unanticipated events,
except as required by applicable law.
CONTACT INFORMATION:
Corporate
Contact:Investor.relations@opiant.com
Investors:Sam MartinArgot
Partnerssam@argotpartners.com 212-600-1902
Opiant Pharmaceuticals (NASDAQ:OPNT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Opiant Pharmaceuticals (NASDAQ:OPNT)
Historical Stock Chart
From Apr 2023 to Apr 2024