GAITHERSBURG, Md. - Emergent BioSolutions Inc. (NYSE: EBS) has reinforced its commitment to combat the opioid crisis by increasing the availability of NARCAN® Nasal Spray, the first U.S. Food and Drug Administration-approved over-the-counter naloxone product, designed to reverse opioid overdoses.
With over 107,000 overdose deaths reported by the CDC in 2022, the company's efforts aim to address the public health emergency that has seen a steady rise in fatalities, particularly from synthetic opioids like fentanyl.
Following the historic FDA approval in March 2023, NARCAN® Nasal Spray has been distributed across the U.S. and Canada, with approximately 22 million doses reaching consumers through various channels, including over 32,000 retail locations. This expansion is aligned with the White House Challenge to Save Lives from Overdose, which calls for increased access to opioid overdose reversal medications.
Emergent has also extended the shelf life of NARCAN® Nasal Spray from 36 to 48 months, ensuring longer availability for users. The company's CEO, Joseph Papa, emphasizes the importance of a collective approach to reducing overdose deaths, noting the alarming statistic of one person dying every six minutes from an opioid overdose in the U.S.
The company's strategy includes making NARCAN® Nasal Spray available in key locations such as businesses, schools, and restaurants, and working with partners like the National Safety Council to educate and reach wider audiences. Emergent has maintained the product's affordability, with a Manufacturer's Suggested Retail Price of $44.99 per two-dose carton, and a public interest price of $41.00 for community organizations.
While Emergent continues to promote access to NARCAN® Nasal Spray, it emphasizes that the medication is not a substitute for emergency medical care and may require repeat dosing. The company remains prepared to meet any increase in demand and to support policies that facilitate access, including coverage by state Medicaid agencies.
This expansion of NARCAN® Nasal Spray's availability is part of Emergent's broader mission to protect public health and enhance life, as they continue to develop and manufacture solutions for complex health threats. The information in this article is based on a press release statement from Emergent BioSolutions.
InvestingPro Insights
As Emergent BioSolutions Inc. (NYSE: EBS) takes significant steps to combat the opioid crisis, the company's financial health and market performance provide essential context for investors. According to real-time data from InvestingPro, Emergent's market capitalization stands at a modest $135.21 million, reflecting investor sentiment and market size. The company's revenue for the last twelve months as of Q4 2023 was reported at $1049.3 million, indicating its operational scale. Despite these figures, the company's valuation metrics show challenges, with a negative P/E ratio of -0.17 and a price-to-book ratio of 0.21, suggesting the market is valuing the company's assets conservatively.
An InvestingPro Tip highlights that Emergent operates with a significant debt burden, which could be a factor for potential investors to consider, given the company's ambitious public health initiatives. Moreover, the stock has fared poorly over the last month, with a price total return of -19.06%, indicating recent market pressures. This is particularly relevant for investors tracking the short-term performance of their holdings.
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