PALM BEACH, Florida, November 10, 2017 /PRNewswire/ --

According to Additions.com, Opioid addiction rates have skyrocketed over the past two decades, costing millions in health insurance costs and lost productivity in the workforce. According to Fortune magazine, an estimated 254 million opioid prescriptions were filled in 2010 alone, enough to medicate every adult in the U.S. for a month on a round-the-clock basis. In that same year, pharmaceutical companies generated revenues of $11 billion from opioid sales alone. The phrase 'opioid epidemic' came about in response to these numbers, no doubt an apt description of how these drugs have taken over the market. The phrase also points to the negative consequences of opioid drugs in so many people's lives. Active biotech and pharma companies in the industry include: Therapix Biosciences Ltd. (NASDAQ: TRPX), Trevena, Inc. (NASDAQ: TRVN), Collegium Pharmaceutical, Inc. (NASDAQ: COLL), Perrigo Company plc (NYSE: PRGO) and Cara Therapeutics, Inc. (NASDAQ: CARA).

Therapix Biosciences Ltd. (NASDAQ: TRPX), Therapix Biosciences Ltd. (NASDAQ: TRPX), a specialty clinical-stage pharmaceutical company specializing in the development of cannabinoid-based treatments, executed a non-exclusive material transfer agreement with Yissum, the technology transfer company of The Hebrew University of Jerusalem, for two synthetic cannabinoids synthesized by Raphael Mechoulam, Ph.D., Professor of medicinal chemistry at the university and Chairman of the Therapix Scientific Advisory Board. Therapix plans to initiate a preclinical study during the fourth quarter to evaluate the opioid-sparing effect of these compounds in a rat model.

The opioid overuse epidemic in the United States was recently declared a public health emergency by President Donald Trump. According to Medical Care, prescription opioid overdose, abuse and dependence carries high costs for society with an estimated total economic burden of $78.5 billion in the United States alone. Nevertheless, for immediate relief of moderate-to-severe acute as well as chronic pain, opioids are frequently the treatment of choice due to their rapid onset and efficacy. However, due to their addictive nature and deleterious adverse events that may lead to lethal outcomes, there is a need to significantly reduce their effective therapeutic dose. Read this entire release and more news for TRPX at: http://www.marketnewsupdates.com/news/trpx.html

Dr. Adi Zuloff-Shani, Chief Technology Officer at Therapix, said, "To address the opioid issue, Therapix is collaborating with Professor Mechoulam to develop a therapy of innovative cannabinoids and opioids. The study builds upon the innovative work of Professor Mechoulam and seeks to reduce the use of opioids by combining them with proprietary cannabinoid molecules to alleviate pain."

"Based on our research surrounding the effects of the endocannabinoid system and how cannabinoids can play a role in pain relief, our group of research scientists has synthesized cannabinoids with improved binding affinity and target specificity, which do not cause the therapeutically undesirable cannabis psychoactivity," stated Professor Mechoulam. "In view of their parallel actions in pain, cannabinoids and opioids together may allow the development of a novel therapy that could exhibit a synergistic effect that reduces the therapeutic effective dose of opioids."

In other industry related news and developments: 

Trevena, Inc. (NASDAQ: TRVN) recently announced that it has recently submitted its New Drug Application (NDA) for OLINVOTM (oliceridine injection) to the U.S. Food and Drug Administration (FDA). OLINVO is the first G protein biased ligand of the mu opioid receptor, a new class of opioid receptor modulator, and the first pain program to receive Breakthrough Therapy designation from the FDA. The submission includes data showing that intravenous OLINVO demonstrated analgesic efficacy in all three dosing regimens tested in the two Phase 3 APOLLO pivotal efficacy studies. These trials were designed to support an indication for the management of moderate-to-severe acute pain in adult patients for whom an intravenous opioid is warranted.

Collegium Pharmaceutical, Inc. (NASDAQ: COLL) announced this week that the U.S. Food and Drug Administration (FDA) approved its Supplemental New Drug Application (sNDA) to enhance the label for Xtampza® ER (oxycodone extended-release), an abuse-deterrent, extended-release opioid, for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

Perrigo Company plc (NYSE: PRGO) back in September of this year received final approval from the U.S. Food and Drug Administration for its AB rated Abbreviated New Drug Application referencing Exalgo® 32mg extended release tablets (hydromorphone HCl). Exalgo® 32mg extended release tablets (hydromorphone HCl) is an opioid agonist indicated for the management of moderate to severe pain in opioid tolerant patients requiring continuous, around-the-clock opioid analgesia for an extended period of time. Annual market sales for the brand and generic equivalents of Exalgo® 32mg extended release tablets for the 12 months ended July 2017 were approximately $35 million.

Cara Therapeutics, Inc. (NASDAQ: CARA), a biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pruritus and pain by selectively targeting peripheral kappa opioid receptors, recently announced that members of its management team will deliver company overviews at three investor conferences in November starting next week. See the schedule of events at https://finance.yahoo.com/news/cara-therapeutics-present-november-investor-210100754.html

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