NEW YORK, March 23, 2018 /PRNewswire/ --
Data provided by Transparency Market Research, indicates that global addiction treatment market was valued at approximately US$ 4.0 billion in 2016 and is anticipated to expand at a CAGR of over 6.0% from 2017 to 2025 or reaching value of approximately US$ 7.0 billion by 2025. Drug abuse and addiction treatments are provided in several different settings by using a number of behavioral and pharmacological approaches. The report indicates that in terms of treatment type, tobacco and nicotine addiction treatment segment is projected to dominate the market and is expected to continue this trend during the forecast period followed by the opioid addiction treatment segment. BioCorRx Inc. (OTC: BICX), Egalet Corporation (NASDAQ: EGLT), Titan Pharmaceuticals, Inc. (NASDAQ: TTNP), BioDelivery Sciences International, Inc. (NASDAQ: BDSI), DURECT Corporation (NASDAQ: DRRX)
According to BCC Research, the opioid abuse segment is projected to be valued at $2.5 billion by 2021. Addiction to opioids is on the rise and is leading to serious health problems. The New York Times reported data provided by the CDC, according to which Drug overdoses killed roughly 64,000 people in the United States in 2016. A very strong increase of more than 22 percent from the previous year. According to the Times, "Drug overdoses are expected to remain the leading cause of death for Americans under 50, as synthetic opioids - primarily fentanyl and its analogues - continue to push the death count higher."
BioCorRx Inc. (OTCQB: BICX) earlier this week commented, "on President Trump's initiative to stop opioid abuse and address factors fueling the opioid crisis, including over-prescription, illicit drug supplies, and insufficient access to evidence-based treatment, primary prevention, and recovery support services. The White House issued a fact sheet on March 19, 2018 addressing the driving forces of the opioid crisis. According to the fact sheet, one of the initiatives "will help those struggling with addiction through evidence-based treatment and recovery support services." Medication-assisted treatment (MAT) is evidence-based and one of the medications used in MAT is naltrexone. The fact sheet specifically discusses naltrexone use in the criminal justice system for offenders struggling with substance use disorder."
Brady Granier, CEO of BioCorRx, Inc., stated, "We appreciate President Trump's proactive stand in addressing the opioid epidemic. We have been an early leader in the field of MAT therapy specific to naltrexone for opioid use disorder (OUD) and expect these new initiatives will help spur wider adoption of MAT. We strongly believe the most effective treatment for OUD is the combination of medication with cognitive behavioral therapy (CBT) and peer support, which has proven highly effective for those patients treated with our BioCorRx® Recovery Program. Our program was recently adopted in Philadelphia in collaboration with One Day at a Time (ODAAT), a program funded by the city of Philadelphia and state of Pennsylvania. As previously announced, we have already met with the FDA and received positive feedback on BICX102, our sustained release naltrexone implant. The FDA deemed the project acceptable for a 505(b)(2) pathway, which we believe will be a more abbreviated and cost-effective route to approval. We have received strong support from the National Institute on Drug Abuse (NIDA) and we are currently finalizing our application for a NIDA grant. We look forward to the implementation of the President's initiatives, which we believe will have a meaningful impact on combating the opioid crisis."
Egalet Corporation (NASDAQ: EGLT), a fully integrated specialty pharmaceutical company, is focused on developing, manufacturing and commercializing innovative treatments for pain and other conditions. In February, the company announced that one of the largest Northeast regional health plans has placed ARYMO ER (morphine sulfate) extended-release (ER) tablets for oral use only -CII and SPRIX (ketorolac tromethamine) Nasal Spray in preferred formulary positions, effective immediately. "Obtaining preferred coverage of both ARYMO ER and SPRIX Nasal Spray is important to ensure access to our products for healthcare providers and for the individuals covered by this large health plan," said Patrick Shea, chief commercial officer of Egalet. "With the ongoing opioid epidemic, we believe that improved access to non-narcotic and abuse-deterrent treatment options is critical to try and decrease prescription opioid abuse in our communities."
Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) is a specialty pharmaceuticals company that develops therapeutics for select chronic diseases utilizing its innovative, long-term, continuous drug delivery platform, ProNeura. The company's lead product is Probuphine, a six-month buprenorphine implant for the maintenance treatment of opioid addiction. The U.S. Food and Drug Administration approved Probuphine on May 26, 2016. Probuphine is the first marketed product to provide maintenance treatment of opioid addiction continuously for six months following a single administration procedure. Recently, the company announced that it has entered into a definitive asset purchase, supply and support agreement with L. Molteni & C. dei F.lli Alitti Società di Esercizio S.p.A. through which Molteni has acquired the European intellectual property related to Probuphine, including the Marketing Authorization Application (MAA) under review by the European Medicines Agency (EMA), and will have the exclusive right to commercialize the Titan supplied Probuphine product in Europe, as well as certain countries of the Commonwealth of Independent States, the Middle East and North Africa
BioDelivery Sciences International, Inc. (NASDAQ: BDSI) is a specialty pharmaceutical company with a focus in the areas of pain management and addiction medicine. BDSI's marketed products and those in development address serious and debilitating conditions such as breakthrough cancer pain, chronic pain and opioid dependence. In February, the company announced that it has entered into a Settlement Agreement with Teva Pharmaceuticals USA, Inc. and Teva Pharmaceuticals Industries, Ltd. (Teva) that resolves BDSI's previously reported BELBUCA® (buprenorphine) buccal film (CIII), patent litigation against Teva pending in the United States District Court for the District of Delaware. BDSI alleged in the lawsuits that the generic form of BELBUCA which Teva is seeking approval to market in the United States pursuant to three Abbreviated New Drug Application (ANDA) filings with the U.S. Food and Drug Administration (FDA), infringed upon two U.S. patents owned by BDSI.
DURECT Corporation (NASDAQ: DRRX) is a biopharmaceutical company developing therapeutics based on its Epigenetic Regulator Program and proprietary drug delivery platforms. DURECT has now staked out important positions in areas as diverse as pain management, psychiatry, metabolic disease, and acute organ injury. DURECT's advanced oral and injectable delivery technologies are designed to enable new indications and enhanced attributes for small-molecule and biologic drugs. One late stage product candidate in this category is POSIMIR(SABER®-Bupivacaine), an investigational locally-acting, non-opioid analgesic intended to provide up to 3 days of continuous pain relief after surgery. In February, the company announced it has commenced patient dosing in a Phase 2a clinical trial of DUR-928 in patients with primary sclerosing cholangitis (PSC). DUR-928, the lead investigational product in our Epigenetic Regulator Program, is an endogenous, first-in-class small molecule, which may have broad applicability in several hepatic and renal diseases such as nonalcoholic steatohepatitis (NASH) and other disorders of the liver such as PSC, in acute organ injuries such as acute liver and kidney injury, and in inflammatory skin disorders such as psoriasis and atopic dermatitis.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information: