Opiant Pharmaceuticals Statement on U.S. District Court Decision
The U.S. District Court for New Jersey has ruled in favor of Teva Pharmaceuticals in a patent lawsuit concerning NARCAN® Nasal Spray.
Sentiment and the balance of points
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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.
Details
News Market Reaction – OPNT
The recorded move for OPNT in the trading session of this news was -22.74%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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