A Maryland pharmaceutical company will acquire the maker of the opioid overdose reversal nasal spray Narcan.
The Baltimore Sun reports Emergent Solutions has agreed to pay $735 million in cash and stock to Ireland-based Adapt Pharma. CEO Daniel J. Abdun-Nabi said in a Wednesday statement the widely used drug aligns with Emergent's position "to protect and enhance life."
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The federal government has declared the opioid epidemic a public health emergency that's claimed thousands of lives.
Narcan is the only approved nasal spray version of naxolone, costing $150 for two doses. While public health programs can negotiate lower prices, access and affordability remains an issue.
Emergent's Doug White says the company plans to invest in addiction and overdose drugs and work with federal officials to ensure grants to offset costs.
This article has been corrected to fix the spelling of Doug White's first name.
Information from: The Baltimore Sun, http://www.baltimoresun.com