Market News
Global Antidote Market- Recent Developments
Product Approval and Launch
- On July 28, 2023, the U.S. FDA (Food and Drug Administration) approved the first over-the-counter naloxone nasal spray to help reduce drug overdose deaths manufactured by Emergent, a biotechnology company. Naloxone is a lifesaving emergency treatment that reverses opioid overdoses. It is a medicine with no abuse potential, and it is not a controlled substance.
- In September 2022, Health and Family Welfare Minister of Bangladesh initiated the plan to manufacture anti-venom serum injections locally in Bangladesh so that the lives of people could be saved from snake biting. Whereas the report also stated that the government is importing such types of sterile medicines from abroad, which includes countries such as India, China, and others countries, but still had a shortage of experienced health workers to use particular types of medicine effectively.
Business Development Activities by the Market Players
- In May 2022, a virtual training workshop was conducted by the World Health Organization for coordinated antidote procurement in the Southeast Asia Region to secure the supply of essential antidotes for poisoning emergencies. These initiatives further aim to enhance the understanding of antidotes and drugs, ultimately driving market expansion.
- In October 2021, Hikma Pharmaceuticals PLC, a pharmaceutical company, announced that they had contributed 50,000 doses of Naloxone HCl Injection, aiming to broaden its non-profit access to treat opioid overdoses. This endeavor is expected to tackle health challenges in underprivileged communities worldwide, thus aiding in the market's growth.
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