Emergent buys NARCAN opioid treatment nasal spray

Emergent BioSolutions completed its acquisition of Adapt Pharma and its flagship product NARCAN Nasal Spray, which is used to treat opioid overdose.

Emergent paid $735 million to acquire Adapt Pharma, including an upfront payment of $635 million with up to $100 million in cash for potential sales-based milestones through 2022.

This is the second major acquisition Emergent has made this month. Earlier in October, Emergent closed on the purchase of PaxVax, a company that develops specialty vaccines that protect against infectious diseases typhoid and cholera.

NARCAN (naloxone HCl) is the first and only nasal spray approved by the U.S. Food and Drug Administration and Health Canada to treat opioid overdoses. Emergent also acquired a development pipeline of new products to address opioid overdose.

“The awareness and access of affordable overdose-reversing drugs is a critical element to combat the opioid crisis. With the acquisition of Adapt Pharma and NARCAN Nasal Spray, the leading community use emergency treatment for opioid overdose, Emergent is proud to be part of the solution to address this public health emergency,” Doug White, senior vice president and Devices Business Unit head at Emergent BioSolutions, said. “Our mission is to protect and enhance life and we are committed to expanding awareness and availability of this convenient, easy-to-administer life-saving treatment by combining Adapt Pharma’s efforts with state and local governments, first responders, pharmacies, and other channels, with Emergent’s 20-year track record as a trusted partner to the Federal government.”

NARCAN Nasal Spray is covered by insurance plans for 97 percent of people in the United States with health insurance. Further, 76 percent of dispensed prescriptions have a co-pay of $10 or less.

Emergent brings over approximately 50 employees from Adapt from the United States, Canada, and Ireland.