An advisory group at the Food and Drugs Administration recommended the company’s treatment for opioid addiction be approved.
Indivior (INVVY) surged in Wednesday morning trading after an advisory group at the Food and Drugs Administration recommended the company’s treatment for opioid addiction be approved.
Indivior shares jumped to the top of the FTSE 250, gaining 11% in the first hour of trading, changing hands at 411.80 pence, extending a 4.5% three-month gain.
The company looks set to benefit from President Donald Trump’s crackdown on the opioid crisis, after the the Psychopharmacologic Drugs Advisory Committee and Drug Safety and Risk Management Advisory Committee of the FDA on Oct. 31 voted in favor of recommending Indivior’s RBP-6000 treatment of opioid use disorder (OUD).
President Trump declared a national emergency over opioid addiction earlier this year. The U.S. Centers for Disease Control and Prevention estimate that around 2.6 million people are addicted to opium-derived drugs.
Read more: https://www.thestreet.com/story/14369362/1/indivior-surges-on-fda-progress-for-opioid-addiction-treatment.html