Market Overview

FDA Approves New Opioid Addiction Treatment Tech

FDA Approves New Opioid Addiction Treatment Tech

Bloomberg reported Thursday that the FDA granted approval to Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) and partner Braeburn Pharmaceuticals for the first implant in the U.S. for the treatment of addiction to heroin and opioid-based painkillers.

First To Market

The product, Probuphine, will hit the market just as Congress and the White House have been working together to tackle what is being called an “epidemic” of heroin and opioid painkiller abuse in the country. The implant will deliver to patients a drug known as buprenorphine, a less-addictive alternative to methadone for treating opioid addiction.

Related Link: Titan Pharma To Present Phase 3 Data Of Probuphine At ASAM Annual Conference

Playing Catch Up

Other biotech companies developing similar tools saw their shares declining in the wake of Titan’s regulatory triumph. British spin-off company Indivior PLC (LON: INDV) (OTC: IZQVF) has an injectable in late-stage study and BioDelivery Sciences International, Inc. (NASDAQ: BDSI) has an injectable in its product pipeline.

Shares of Indivior were down 0.64 percent on the London exchange at time of writing, while BioDelivery Sciences, which already sells a form of buprenorphine, saw shares down 0.48 percent.

Shares of Titan Pharmaceuticals rose 12.5 percent following the news Thursday, and were trading at 12-month highs Friday. At time of writing, Titan was up 6.36 percent at $7.52.

Posted-In: Biotech Long Ideas News Health Care FDA Movers Media Trading Ideas Best of Benzinga


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