STAMFORD, Conn. – December 20, 2023 – Harm Reduction Therapeutics (HRT), an independent, 501(c)(3) non-profit pharmaceutical company, announced that it has begun shipping RiVive™ (naloxone HCl nasal spray 3 mg), an FDA-approved, over-the-counter (OTC) medication for the emergency treatment of opioid overdose.
Since 2018, Purdue Pharma has supported HRT’s mission by contributing millions of dollars, extensive technical expertise, and rights to data to support the development of RiVive. Purdue’s support for HRT is a vital part of the Company’s Public Health Initiatives which, as important elements of its Plan of Reorganization, are intended to help abate the opioid crisis.
“HRT is the only non-profit pharmaceutical company focused on saving lives that would otherwise be lost to opioid overdose,” said Craig Landau, MD, President and CEO of Purdue. “We are deeply grateful to our creditors for supporting the Company’s efforts to fund HRT’s work. As a result of our collective efforts, this medication will save lives.”
HRT’s mission is to prevent opioid overdose deaths by making low-cost intranasal naloxone available to everyone without a prescription. Each RiVive nasal spray device contains one dose of naloxone and will be exclusively available in twin packs containing two single-dose devices. HRT will initially distribute to harm reduction community organizations and local and state governments. The product will be available at cost or less, with its initial selling price set at $36 per twin pack.
Neither Purdue nor any of its creditors will receive any revenues, royalties, or profits associated with potential future sales of HRT’s OTC naloxone nasal spray.
About Purdue Pharma L.P.
Purdue Pharma and its subsidiaries develop, manufacture and market medications to meet the evolving needs of healthcare professionals, patients, and caregivers. Purdue’s plan of reorganization will deliver billions in value to communities across the country to fund programs specifically for abatement of the opioid crisis. The bankruptcy settlement will also deliver funds to private abatement trusts for the benefit of personal injury claimants.
Substantially all of Purdue’s assets will be transferred to a new post-emergence company with a public-minded mission. This new company will be governed by new independent board members and will operate in a responsible and sustainable manner taking into account long-term public health interests relating to the opioid crisis. The company will continue serving patients who rely on its medicines, pursuing its pipeline and introducing medicines that will help save and improve lives.
For more information, visit www.purduepharma.com.
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