Emergent Biosolutions, a pharmaceutical company based in Gaithersburg with 1,300 employees at 13 locations in Maryland, has acquired Adapt Pharma the maker of Narcan Nasal Spray. The deal was reached at a cost of $735 million in cash and stock. With this purchase the local company plans to expand its product line related to the opioid crisis and addiction.
From The Baltimore Sun:
“The acquisition of Adapt Pharma, and with it the Narcan Nasal Spray, the leading community use emergency treatment for opioid overdose, is directly in line with our mission — to protect and enhance life,” said Emergent CEO Daniel J. Abdun-Nabi in a statement. “Adding this important life-saving product to our portfolio of preparedness solutions allows us to apply our experience gained from two decades of partnering with the U.S. government to safeguard public health against biological and chemical threats to address the devastating increase in deaths due to opioid overdoses, one of the most serious public health threats facing the nation today.”
For more information read The Baltimore Sun.