Opiant Pharmaceuticals, Inc. Provides an Update on NARCAN® Nasal Spray

Opiant Pharmaceuticals, Inc. Provides an Update on NARCAN® Nasal Spray

SANTA MONICA, Calif., Sept. 15, 2017 (GLOBE NEWSWIRE) -- 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

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CONTACT INFORMATION:

Corporate Contact:
Investor.relations@opiant.com 

Investors:
Sam Martin
Argot Partners
sam@argotpartners.com 
212-600-1902

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