Emergent BioSolutions to Acquire ADAPT Pharma®
August 28, 2018
DUBLIN, IRELAND – August 28, 2018 – ADAPT Pharma (“ADAPT”) today announced that it has entered into a definitive agreement to be acquired by Emergent BioSolutions (NYSE: EBS) (“Emergent”).
Adapt is solely focused on helping address the opioid overdose and addiction crisis. It distributes NARCAN® (naloxone HCl) Nasal Spray, the leading FDA approved emergency treatment for opioid overdose, to health agencies, first responders and retail pharmacies. It also has a development pipeline of potential opioid overdose and addiction treatment options. Emergent is a leader in the development, supply and provision of medical countermeasures for accidental, intentional and naturally occurring public health threats as well as emerging infectious diseases.
“I am delighted that this transaction will bring Adapt and Emergent together to focus on critical treatments within the opioid crisis – one of the leading public health issues of our time. With a shared mission of protecting lives from public health threats, I am confident that our combined expertise and resources will accelerate access to NARCAN® Nasal Spray through investments in public awareness and manufacturing capacity while maintaining a responsible pricing approach. It will also allow us to progress Adapt’s R&D pipeline of additional opioid overdose and addiction treatment options” said Seamus Mulligan, Chairman and Chief Executive Officer of Adapt. “To maintain the outstanding momentum our team has generated, Adapt will continue to focus on the opioid crisis as part of Emergent’s device business unit and all employees and facilities will be retained.”
Daniel J. Abdun-Nabi, CEO of Emergent BioSolutions, stated, “The acquisition of Adapt Pharma, and with it NARCAN® Nasal Spray, is directly in line with our mission – to protect and enhance life. By leveraging Emergent’s core competencies and 20-year track record as a trusted partner to the Federal government, and Adapt’s demonstrated success with state and local government, first responder, and commercial channels, we expect to combine efforts to address the opioid overdose epidemic. We look forward to welcoming the Adapt team so together we can further expand awareness and availability of this potentially life-saving treatment against this serious public health threat.”
The acquisition is subject to customary closing conditions, including U.S. antitrust regulatory approval, and is expected to close in the fourth quarter of 2018.
Please see Indications and Important Safety Information below.
NARCAN® (naloxone hydrochloride) Nasal Spray is an opioid antagonist indicated for the emergency treatment of known or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression. NARCAN® Nasal Spray is intended for immediate administration as emergency therapy in settings where opioids may be present. NARCAN® Nasal Spray is not a substitute for emergency medical care.
Important Safety Information
NARCAN® (naloxone HCI) Nasal Spray is contraindicated in patients known to be hypersensitive to naloxone hydrochloride or to any of the other ingredients.
Seek emergency medical assistance immediately after initial use, keeping the patient under continued surveillance.
Risk of Recurrent Respiratory and CNS Depression: Due to the duration of action of naloxone relative to the opioid, keep the patient under continued surveillance and administer repeat doses of naloxone using a new nasal spray with each dose, as necessary, while awaiting emergency medical assistance.
Risk of Limited Efficacy with Partial Agonists or Mixed Agonists/Antagonists: Reversal of respiratory depression caused by partial agonists or mixed agonists/antagonists, such as buprenorphine and pentazocine, may be incomplete. Larger or repeat doses may be required.
Precipitation of Severe Opioid Withdrawal: Use in patients who are opioid dependent may precipitate opioid withdrawal characterized by body aches, fever, sweating, runny nose, sneezing, piloerection, yawning, weakness, shivering or trembling, nervousness, restlessness or irritability, diarrhea, nausea or vomiting, abdominal cramps, increased blood pressure, and tachycardia. In some patients, there may be aggressive behavior upon abrupt reversal of an opioid overdose. In neonates, opioid withdrawal may be life-threatening if not recognized and properly treated and may also include convulsions, excessive crying, and hyperactive reflexes. Monitor for the development of opioid withdrawal.
Risk of Cardiovascular (CV) Effects: Abrupt postoperative reversal of opioid depression may result in adverse CV effects. These events have primarily occurred in patients who had pre-existing CV disorders or received other drugs that may have similar adverse CV effects. Monitor these patients closely in an appropriate healthcare setting after use of naloxone hydrochloride.
Adverse Reactions: The following adverse reactions were observed in a NARCAN® Nasal Spray clinical study: increased blood pressure, constipation, toothache, muscle spasms, musculoskeletal pain, headache, nasal dryness, nasal edema, nasal congestion, nasal inflammation, rhinalgia, and xeroderma.
To report SUSPECTED ADVERSE REACTIONS, contact ADAPT Pharma, Inc. at 1-844-4NARCAN (1-844-462-7226) or FDA at 1-800-FDA-1088 or www.fda.gov/medwatch.
Please see full Prescribing Information at: https://www.narcan.com/pdf/NARCAN-Prescribing-Information.pdf.
For additional information on NARCAN® Nasal Spray, please visit www.NARCAN.com.
For questions regarding NARCAN® Nasal Spray distribution, please call 1-844-4NARCAN (462-7226).
ABOUT ADAPT PHARMA®
Adapt Pharma® is committed to expanding affordable access to NARCAN® (naloxone HCI) Nasal Spray and to progressing treatment options in the field of addiction. Adapt Pharma’s company headquarters is in Dublin, Ireland with U.S. headquarters in Radnor, Pennsylvania. For more information, please visit www.adaptpharma.com.
ADAPT PHARMA® MEDIA CONTACT INFORMATION
Vice President – Corporate Communications