Shares of Emergent BioSolutions Inc. EBS rallied about 19% in premarket trading on Thursday, the day after a Food and Drug Administration advisory committee voted in favor of allowing over-the-counter sales of Narcan, the opioid overdose reversal medication. The FDA is not required to follow the advice of the committee but often does. Emergent has submitted a new drug application to the FDA for OTC naloxone nasal spray, and the regulator is expected to make a decision whether to approve the drug by March 29. Emergent’s stock has gained 22.4% over the past three months, while the S&P 500 SPX is up 4.4%.
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