US pharma group Emergent BioSolutions has completed the acquisition of Dublin-headquartered Adapt Pharma for the $635 million (€549 million).
Adapt is the company behind the Food and Drug Administration (FDA) approved emergency overdose treatment Narcan.
The Irish shareholders of the business could earn a further $100 million if the business meets certain sales targets.
Narcan is a nasal spray used to revive people who have overdosed on opioids. It is a market leader in the United States, where it is carried by law enforcement officers in several states.
The single dose spray, which contains the chemical naloxone hydrochloride – is the only FDA approved needle-free emergency opioid overdose treatment.
Addiction to opioids – mainly prescription painkillers, heroin and fentanyl – has emerged as a serious public health crisis in the United States, especially in rural areas.
Doug White, senior vice president at Emergent BioSolutions,said: "The awareness and access of affordable overdose-reversing drugs is a critical element to combat the opioid crisis."
“ With the acquisition of Adapt Pharma and Narcan nasal spray, the leading community use emergency treatment for opioid overdose, Emergent is proud to be part of the solution to address this public health emergency,” he said.
“ Our mission is to protect and enhance life and we are committed to expanding awareness and availability of this convenient, easy-to-administer life-saving treatment by combining Adapt Pharma’s efforts with state and local governments, first responders, pharmacies, and other channels, with Emergent’s 20-year track record as a trusted partner to the Federal government,” he added.
