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October 15, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Purdue Pharma gives $3.42M grant to develop OTC naloxone nasal spray

Purdue Pharma LP has allocated a $3.42 million grant to Harm Reduction Therapeutics of Pittsburgh for the development of its low-cost, over-the-counter (OTC) naloxone nasal spray that can be used to reverse the effects of an opioid overdose.

Harm Reduction Therapeutics stated that the OTC product will be developed, approved and distributed in 18 to 24 months, adding that Purdue Pharma’s grant will help to speed up the development process by 12 months. The new product will be offered as a low-cost alternative to prescription naloxone for both consumers and first responders. Purdue Pharma will not receive any revenues or royalties from the product.

“Purdue is committed to advancing patient care and public safety,” said Craig Landau, president and CEO of Stamford-based Purdue Pharma. “While naloxone accessibility cannot be seen as a single solution, it must be part of our collective actions. This grant is one example of the meaningful steps Purdue is taking to help address opioid abuse in our communities.”