Narcan maker Emergent BioSolutions stock surges, but then pulls back
FDA approves Emergent’s opioid overdose-reversing drug Narcan for over-the-counter sales.
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Emergent BioSolutions Inc. announced Wednesday that the U.S. Food and Drug Administration approved its opioid overdose-reversing nasal spray, Narcan, for over-the-counter sales.
The news initially sent the drugmaker’s stock EBS soaring as much as 20%, but it has given up most of its gains to be up 6% in midday trading. The FDA’s approval was expected, as an FDA advisory committee had voted unanimously last month in favor of allowing over-the-counter sales of Narcan.
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