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Walgreens (WBA) OTC NARCAN Nasal Spray to be Available Soon
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Walgreens Boots Alliance, Inc. (WBA - Free Report) recently announced that it is taking an important step to increase access to and education around naloxone. The company’s over-the-counter (OTC) NARCAN Nasal Spray will be available at Walgreens stores and online as soon as Sep 5, with nationwide availability on Sep 7.
In support of the launch, the healthcare provider is instructing Americans on how to administer this life-saving drug that, if given in time, can reverse the effects of an opioid overdose.
This announcement was followed by the FDA approval earlier this year.
More on the News
Walgreens is collaborating with stop Overdose, a non-profit organization committed to stopping drug-related overdose deaths through education, medical intervention and public awareness, to inform the public on how to utilize this lifesaving nasal spray.
Walgreens offers a ‘National Prescription Drug Take Program’ as one of the company's numerous continuous efforts to combat dangerous prescription use.
The program invites people to visit a Walgreens safe medication disposal kiosk during regular pharmacy hours to collect unwanted, unused, or expired drugs for free, safe disposal all year. The store locator on walgreens.com can be used to find kiosk locations.
Significance of New Nasal Spray
Per Walgreens management, the company is committed to educating and making it easier for all Americans to have this life-saving medicine available in their first aid kits in an emergency. As a leading healthcare company, providing access to OTC naloxone allows bystanders, friends and family members to save a life.
In the event of an opioid overdose, this life-saving drug can be given to undo the effects of opioids momentarily. Naloxone prevents the potentially fatal depression of the central nervous and respiratory systems, restoring normal breathing to overdose sufferers. With Walgreens, this community-first initiative hopes to give everyone the confidence to carry and use naloxone nasal spray.
Industry Prospects
Per a report by Allied Market Research, the global nasal spray market size was valued at $9.2 billion in 2021 and is projected to reach $16.9 billion by 2031, witnessing a CAGR of 6.2%. Growth & innovations in the pharmaceutical industry for the manufacturing of nasal spray products, owing to a massive pool of health-conscious consumers, create a nasal spray market opportunity for the market.
Recent Developments
In August 2023, Walgreens announced that it is offering in-store vouchers and off-site vaccination clinics through its employer vaccination program and is rolling out a low-cost, two results in one test for flu and COVID-19 this fall respiratory virus season. These new services support insights gleaned from a recent consumer survey commissioned by Walgreens that reveals many prefer going to local pharmacies because of their ease and convenience.
Image Source: Zacks Investment Research
In June 2022, Walgreens launched its clinical trial business to redefine the patient experience and bolster access and retention in sponsor-led drug development research. The new business will address patient recruitment and enrollment-related challenges in clinical trials, which were further exacerbated by the COVID-19 pandemic. Through this launch, Walgreens aims to enhance participation, especially among diverse populations, while supporting sponsors in meeting the trial goals.
Price Performance
In the past year, WBA shares have declined 27.4% compared with the industry’s fall of 32.8%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2 (Buy).
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Walgreens (WBA) OTC NARCAN Nasal Spray to be Available Soon
Walgreens Boots Alliance, Inc. (WBA - Free Report) recently announced that it is taking an important step to increase access to and education around naloxone. The company’s over-the-counter (OTC) NARCAN Nasal Spray will be available at Walgreens stores and online as soon as Sep 5, with nationwide availability on Sep 7.
In support of the launch, the healthcare provider is instructing Americans on how to administer this life-saving drug that, if given in time, can reverse the effects of an opioid overdose.
This announcement was followed by the FDA approval earlier this year.
More on the News
Walgreens is collaborating with stop Overdose, a non-profit organization committed to stopping drug-related overdose deaths through education, medical intervention and public awareness, to inform the public on how to utilize this lifesaving nasal spray.
Walgreens offers a ‘National Prescription Drug Take Program’ as one of the company's numerous continuous efforts to combat dangerous prescription use.
The program invites people to visit a Walgreens safe medication disposal kiosk during regular pharmacy hours to collect unwanted, unused, or expired drugs for free, safe disposal all year. The store locator on walgreens.com can be used to find kiosk locations.
Significance of New Nasal Spray
Per Walgreens management, the company is committed to educating and making it easier for all Americans to have this life-saving medicine available in their first aid kits in an emergency. As a leading healthcare company, providing access to OTC naloxone allows bystanders, friends and family members to save a life.
In the event of an opioid overdose, this life-saving drug can be given to undo the effects of opioids momentarily. Naloxone prevents the potentially fatal depression of the central nervous and respiratory systems, restoring normal breathing to overdose sufferers. With Walgreens, this community-first initiative hopes to give everyone the confidence to carry and use naloxone nasal spray.
Industry Prospects
Per a report by Allied Market Research, the global nasal spray market size was valued at $9.2 billion in 2021 and is projected to reach $16.9 billion by 2031, witnessing a CAGR of 6.2%. Growth & innovations in the pharmaceutical industry for the manufacturing of nasal spray products, owing to a massive pool of health-conscious consumers, create a nasal spray market opportunity for the market.
Recent Developments
In August 2023, Walgreens announced that it is offering in-store vouchers and off-site vaccination clinics through its employer vaccination program and is rolling out a low-cost, two results in one test for flu and COVID-19 this fall respiratory virus season. These new services support insights gleaned from a recent consumer survey commissioned by Walgreens that reveals many prefer going to local pharmacies because of their ease and convenience.
In June 2022, Walgreens launched its clinical trial business to redefine the patient experience and bolster access and retention in sponsor-led drug development research. The new business will address patient recruitment and enrollment-related challenges in clinical trials, which were further exacerbated by the COVID-19 pandemic. Through this launch, Walgreens aims to enhance participation, especially among diverse populations, while supporting sponsors in meeting the trial goals.
Price Performance
In the past year, WBA shares have declined 27.4% compared with the industry’s fall of 32.8%.
Zacks Rank and Key Picks
Walgreens currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2 (Buy).
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.