Emergent BioSolutions to Acquire ADAPT Pharma
ADAPT Pharma recently announced it has entered into a definitive agreement to be acquired by Emergent BioSolutions. Adapt is solely focused on helping address the opioid overdose and addiction crisis. It distributes NARCAN (naloxone HCl) Nasal Spray, the leading FDA approved emergency treatment for opioid overdose, to health agencies, first responders and retail pharmacies. It also has a development pipeline of potential opioid overdose and addiction treatment options. Emergent is a leader in the development, supply and provision of medical countermeasures for accidental, intentional and naturally occurring public health threats as well as emerging infectious diseases.
“I am delighted that this transaction will bring Adapt and Emergent together to focus on critical treatments within the opioid crisis – one of the leading public health issues of our time. With a shared mission of protecting lives from public health threats, I am confident that our combined expertise and resources will accelerate access to NARCAN Nasal Spray through investments in public awareness and manufacturing capacity while maintaining a responsible pricing approach. It will also allow us to progress Adapt’s R&D pipeline of additional opioid overdose and addiction treatment options” said Seamus Mulligan, Chairman and Chief Executive Officer of Adapt. “To maintain the outstanding momentum our team has generated, Adapt will continue to focus on the opioid crisis as part of Emergent’s device business unit and all employees and facilities will be retained.”
Daniel J. Abdun-Nabi, CEO of Emergent BioSolutions, added “The acquisition of Adapt Pharma, and with it NARCAN Nasal Spray, is directly in line with our mission – to protect and enhance life. By leveraging Emergent’s core competencies and 20-year track record as a trusted partner to the Federal government, and Adapt’s demonstrated success with state and local government, first responder, and commercial channels, we expect to combine efforts to address the opioid overdose epidemic. We look forward to welcoming the Adapt team so together we can further expand awareness and availability of this potentially life-saving treatment against this serious public health threat.”
The acquisition is subject to customary closing conditions, including U.S. antitrust regulatory approval, and is expected to close in the fourth quarter of 2018.
NARCAN (naloxone hydrochloride) Nasal Spray is an opioid antagonist indicated for the emergency treatment of known or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression. NARCAN Nasal Spray is intended for immediate administration as emergency therapy in settings where opioids may be present. NARCAN Nasal Spray is not a substitute for emergency medical care.
Adapt Pharma is committed to expanding affordable access to NARCAN (naloxone HCI) Nasal Spray and to progressing treatment options in the field of addiction. Adapt Pharma’s company headquarters is in Dublin, Ireland, with US headquarters in Radnor, PA. For more information, visit www.adaptpharma.com.
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