The FDA just asked a drugmaker to remove its opioid painkiller from the market — and the stock is plunging

The FDA just requested that Endo International take its extended-release opioid painkiller Opana ER (otherwise known as oxymorphone hydrochloride) off the market.

The agency said that the decision came after it found that the drug’s benefits no longer outweighed its risk for abuse.

“We are facing an opioid epidemic – a public health crisis, and we must take all necessary steps to reduce the scope of opioid misuse and abuse,” FDA commissioner Scott Gottlieb said in a news release.

More than 183,000 people died from overdoses related to prescription opioid painkillers like oxycodone, hydrocodone, fentanyl, and morphine over the last 15+ years.

Endo’s stock was down as much as 12% after-hours on Thursday.

source
Markets Insider