Research for Advanced Treatments Move in the Right Direction to Combat Opioid Epidemic

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