LCI - FDA Approves Cocaine-Based Nasal Spray
While using cocaine recreationally remains illegal, the drug does have some use in the medical profession. As it turns out, the Food and Drug Administration (FDA) has approved a nasal spray that contains cocaine as one of its ingredients.
Lannett Company (NYSE: LCI), a small-cap drug manufacturer, received FDA approval for Numbrino, the first branded drug in the company's 78-year history. The nasal spray will be marketed to doctors as a local anesthetic for minor surgeries around the nasal cavities of patients, but will not be available in retail pharmacies.
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