Using Iqvia's prescription data for the month of February 2019, Raymond James analyst Elliot Wilbur estimated the entire naloxone market at about $290 million in annual sales.
In 2018 Emergent Biosolutions bought Adapt Pharma, the owners of Narcan™ for $735 million USD. Emergent predicts that Narcan can generate revenues of $200 million to $220 million, and could be accretive to adjusted net income next year.
The world wide Naloxone (spray) market is projected to reach $928.1M USD annually by 2026, with a CAGR of 22.8%.
The FDA has also taken the unprecedented step of assisting manufacturers to pursue approval of an over-the-counter naloxone spray product and is exploring other ways to increase the availability of naloxone products intended for use in the community
There are 3 main products currently on the market that Iaso would compete against. Narcan, Evzio and the generic Naloxone. They all have the same fatal flaw.
An overdose of opioids is heralded by losing consciousness. Every device currently on the market requires someone to be conscious to administer the Naloxone. This means that, where the user is alone or they all lose consciousness, unless someone happens to see them and call emergency services, they can very easily die.
We've taken a relatively simple concept and applied it to this industry to stop the needless deaths. Automated Self-Administering of Naloxone. An entirely mechanical device that a user would arm when they're going to use opioids. They ‘arm’ it when they are taking the opioids and, if they don’t disarm the device before the timer ticks down past the alarm stage, it will automatically administer the Naloxone, reversing the overdose.
There are no drawbacks, Iaso works in every instance where the existing products do, you can use it to manually administer Naloxone as well as Iaso automatically administering Naloxone if required. Even if every opioid user in the world have one of the competitor's devices, there would still be thousands of deaths every year because of their fatal flaw. That difference, automatic administration, is what could save over 100,000 lives a year.
Iaso is currently protected by a provisional patent in New Zealand and will be applying for patents across the world to solidify that protection.