Emergent BioSolutions announced that it is buying Adapt Pharma for $735 million.
Adapt is the maker of Narcan, the first and only FDA-approved nasal spray form of naloxone, which is used to reverse opioid overdose.
Narcan has become a go-to choice for first responders as the U.S. opioid epidemic worsens. Last year, a record 70,000 people died from opioid overdose, according to the CDC.
The acquisition will include Narcan along with Adapt’s pipeline of new products to treat opioid overdose.
Read the full Reuters report.