Narcan competitor price cut ‘worth watching closely,’ says Wells Fargo

 After privately-held Kaleo announced plans to offer an authorized generic of its naloxone HCI auto injector product for a list price of $178 per carton, Wells Fargo analyst David Maris noted that when Emergent BioSolutions purchased Adapt Pharma and its naloxone-based Narcan the company had said that it expected Narcan to generate $200M-$220M in revenues in 2019. Emergent also said at the time of the deal that it expected additional competition, says Maris, who believes “this pricing move is worth watching closely.” The analyst also pointed out that next week the FDA is hosting a meeting to discuss ways to increase the availability of naloxone, including co-prescriptions, which would be a potential positive for Emergent, and OTC availability, which is a possible negative. Maris keeps a Market Perform rating on Emergent BioSolutions shares. https://thefly.com/landingPageNews.php?id=2836217