Emergent Biosolutions Inc EBS shares are trading higher Wednesday following reports the U.S. Food and Drug Administration approved the company’s Naloxone nasal spray for over-the-counter use.
What To Know: Emergent Biosolutions’ Naloxone spray, also known as Narcan, is used to reverse the effects of opioids, especially amid signs of an overdose. According to a Reuters report, the FDA approved the drug to be sold nationwide without a prescription.
The news comes a month after an independent panel of advisors unanimously recommended over-the-counter use of the drug.
U.S. drug-related overdose deaths increased approximately 15% year-over-year in 2021, per Reuters, citing official data.
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EBS Price Action: Emergent Biosolutions has a 52-week high of $45.02 and a 52-week low of $7.74.
The stock was up 18.9% at $10.59 at time of publication, according to Benzinga Pro.
Photo: courtesy of Emergent Biosolutions.