COLL - Under Biden's Budget These 2 Little-Known Biotechs Could Help End the Opioid Crisis
Among all of the overwhelming and depressing statistics associated with the coronavirus pandemic, here's one number that has sometimes been overlooked: 81,003 people in the U.S. died from drug overdoses in the 12-month period that ended in June 2020. That was a 20% year-over-year increase to a record high, due largely to a sharp surge in overdose deaths after COVID-19 struck. The combination of the added stressors of the pandemic and addicts' inability to access support and treatment proved devastating to many.
That's just one reason President Biden's recent budget proposal calls for $10.7 billion to fight the country's opioid addiction crisis. His proposal focuses on at-risk communities, and increases funding for everything from prevention to recovery programs. If the president gets his way, Heron Therapeutics (NASDAQ: HRTX) and Collegium Pharmaceutical (NASDAQ: COLL) should benefit. They each have treatments in their portfolios that could play a role in helping the 1.6 million Americans with opioid use disorder curb their addictions, and help prevent others from becoming addicted at all.
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Under Biden's Budget, These 2 Little-Known Biotechs Could Help End the Opioid Crisis