- Substance use disorder (SUD) has reached crisis proportions
- Deal links Quoin’s non-opioid analgesics to Skinvisible’s drug delivery system
- Market for opioids is currently about $6 billion annually
Opioids are killing Americans at an alarming rate. Every day ‘91 Americans die… from an opioid overdose’, according to the Centers for Disease Control and Prevention (CDC). In response to the substance abuse epidemic sweeping the nation, Congress passed the 21st Century Cures Act, which was signed into law by President Obama in December 2016. The legislation allocates over $1 billion to a variety of programs, some of which will attempt to wean patients away from addictive opium derivatives, a push unlikely to cause any degradation in pain management regimens. Non-opiates, in many instances, have proven to be just as effective for pain relief as oxycodone, hydrocodone or codeine, some widely used opioids. In October 2017, President Trump declared a public health emergency to deal with the opioid epidemic. Now that opioid use has reached crisis levels, bringing benign alternatives to market could rescue thousands from the perils of addiction. Skinvisible, Inc. (OTCQB: SKVI) plans to do exactly that. It is teaming up with Quoin Pharmaceuticals, in a proposed merger, to provide pain management products that, unlike opioids, do not provide a cure that is worse than the disease.
The abuse of opioids and other substances continues globally to be a vexing public health issue. The number of people reporting a substance use disorder (SUD) is on the rise, a development attributed to illicit opioids like heroin and opium but also, more alarmingly, to prescription opioid pain relievers (OPRs). The effects have been devastating. In 2015, 33,091 Americans died due to an accidental or unintentional opioid-related overdose. OPR abuse is largely responsible for the increase in…
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