Opiant Pharmaceuticals Statement on U.S. District Court Decision

Rhea-AI Summary

The U.S. District Court for New Jersey has ruled in favor of Teva Pharmaceuticals in a patent lawsuit concerning NARCAN® Nasal Spray. Opiant's partner, Emergent BioSolutions, plans to appeal this decision. CEO Roger Crystal expressed disappointment but emphasized NARCAN's critical role in fighting opioid overdoses and Opiant's commitment to developing new addiction treatments. The company maintains a strong financial position and a pipeline of potential medicines aimed at combatting addiction.

Positive

• Opiant possesses a strong financial position.
• The company is committed to developing innovative medicines for addiction.

Negative

• The court ruling against Opiant in the patent litigation may hinder market position.
• Potential delays in product availability due to ongoing legal disputes.

SANTA MONICA, Calif., June 05, 2020 (GLOBE NEWSWIRE) -- Today, the U.S. District Court for the District of New Jersey entered a decision in the patent litigation regarding NARCAN® (naloxone HCl) Nasal Spray 4mg/spray product. The Court ruled in favor of the Defendants, Teva Pharmaceuticals Industries Ltd. Opiant’s commercial partner Emergent BioSolutions, intends to appeal the decision to the Court of Appeals for the Federal Circuit.

“While we are disappointed by the decision today, we are mindful of the important role NARCAN® Nasal Spray plays across the United States in helping our communities save lives from opioid overdose,” said Roger Crystal, M.D., President and Chief Executive Officer of Opiant. “With our pipeline and strong financial position, we remain committed to develop best-in-class medicines for addiction and overdose.”

About Opiant Pharmaceuticals, Inc.
Opiant Pharmaceuticals, Inc., the company that developed NARCAN® Nasal Spray, is building a leading franchise of new medicines to combat addictions and drug overdose.
For more information visit: www.opiant.com.

Investor Relations Contacts:

Ben Atkins
VP of Corporate Communications and Investor Relations
Batkins@opiant.com
(310) 598-5410

Dan Ferry
Managing Director
LifeSci Advisors, LLC
Daniel@lifesciadvisors.com
(617) 430-7576

FAQ

What was the court's decision regarding Opiant's NARCAN® Nasal Spray patent litigation?

The U.S. District Court ruled in favor of Teva Pharmaceuticals, affecting Opiant's patent protections.

What is Opiant's response to the court ruling on NARCAN®?

Opiant plans to appeal the decision and emphasizes their commitment to addressing opioid overdoses.

How does the court ruling impact Opiant's market strategy for NARCAN®?

The ruling could impact Opiant's competitive position and delay product releases.

What is the financial outlook for Opiant following the patent ruling?

Despite the ruling, Opiant has a strong financial position and a pipeline for future medicines.

Which company is appealing the court's decision on NARCAN®?

Emergent BioSolutions, Opiant's commercial partner, intends to appeal the decision.