Lannett Shares Jolted By FDA Approval Of Cocaine Spray For Nasal Surgery

Pharmaceutical products manufacturer Lannett Company, Inc. LCI said Monday that its New Drug Application for cocaine hydrochloride nasal solution under the brand name Numbrino has received FDA approval.

Although cocaine is more commonly associated with drug abuse, the substance is also used for medicine purposes. In the U.S., it's a Schedule II drug, meaning that it has some approved medical uses. 

Cannabis, on the other hand, is a Schedule I drug, meaning it has no approved medical uses. 

Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.

Cocaine is considered a good topical anesthetic and vasoconstricting agent, according to the American Academy of Otolaryngology-Head and Neck Surgery.

"The FDA's approval of our Cocaine HCl product, the first NDA approval to include full clinical trials in the company's history, marks a major milestone in Lannett's 70+ years of operations," CEO Tim Crew said in a statement.

"We believe the product has the potential to be an excellent option for the labeled indication. We expect to launch the product shortly, under the brand name Numbrino."

Numbrino nasal solution is an ester local anesthetic indicated for the introduction of local anesthesia of the mucous membranes for conducting surgeries or diagnostic operations through the nasal cavities of adults.

Lannett shares were trading 5.7% higher at $8.89 at the time of publication Tuesday. 

Photo by robin_24 via Wikimedia

Posted In: CannabisNewsHealth CareFDAMarketsGeneralNumbrino
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!


Loading...