Acura Pharmaceuticals Soars After Launch of New Cold Medicine
A press release on Monday morning has sent shares of Acura Pharmaceuticals (NASDAQ: ACUR) sharply higher during the trading session. At last check, the stock had added around 64 percent and was trading at $2.36. The company announced the release of a "next generation pseudoephedrine product" which combines nasal-congestion release with a unique technology that disrupts the conversion of pseudoephedrine into the illegal street drug methamphetamine. According to the press release, the drug is now available to national and regional drug wholesalers and will be in pharmacies soon.
"The launch of Nexafed(R) is a significant milestone for Acura and in the continued fight against meth in the U.S.," said Robert B. Jones, president and chief executive officer of Acura Pharmaceuticals. "Acura is highly committed to addressing the needs of local communities by investing in the development of abuse-deterrent technologies and medicines. It's not about innovating once, but continuing to improve on the technology without compromising efficacy."
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