Palm Beach, FL – April 18, 2023 – FinancialNewsMedia.com News Commentary – Alcohol consumption and drug abuse have become public health concerns worldwide. Governments are working on ways to detect any symptoms of alcohol consumption or drug abuse. These initiatives will most likely enhance the demand for detox products in subsequent years. Detoxification is a health measure that is rapidly being adopted by consumers who desire to boost their body functions and eliminate toxins such as alcohol. The rising interest in boosting digestion, immune system, and the functions of the organs among people has favored the sales of detox drinks in recent years. The alarming rise in cases of alcohol & drug abuse and addiction, especially among the youth has led to a greater demand for detox drinks and can be a lucrative opportunity for the leading vendors. The mounting popularity of these drinks in view of the rising health consciousness among people in the Middle East, Africa, and the Asia Pacific can also emerge as a huge opportunity for international companies in the following years. Manufacturers primarily focus on boosting their product sales by expanding their offerings or by building new manufacturing plants across regions. Intensifying competition and the resultant increase in the number of product launches can be favorable for the global market over the next few years. Active companies in the markets this week include: GBB Drink Lab, FSD Pharma Inc. (NASDAQ: HUGE), Celsius Holdings, Inc., (NASDAQ: CELH), Omeros Corporation (NASDAQ: OMER), Merck (NYSE: MRK), Prometheus Biosciences, Inc. (NASDAQ: RXDX).
According to a Comprehensive Research Report by Market Research Future (MRFR), the market is estimated to acquire a size of over USD 3.2 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 10.98% during the review timeframe. The report said: “Alcohol consumption and drug abuse have become public health concerns worldwide. Governments are working on ways to detect any symptoms of alcohol consumption or drug abuse. These initiatives will most likely enhance the demand for detox products in subsequent years. North America could possibly emerge as the market leader in the coming years, given the high demand for various detox drinks and the robust presence of highly reputed firms in the region. Another factor that works in the market’s favor is the escalating consumer preference for healthy beverages in view of the surging illnesses and the rising prevalence of a sedentary lifestyle. Organic and natural detox drinks enjoy strong demand in the region, especially across the United States owing to the growing awareness about the toxic effects of artificial ingredients. Sensing the huge opportunity that lies in the region, manufacturers are boosting their R&D spending to bolster their product portfolio and cater to a higher number of consumers.”
GBB Drink Lab News: GBB Drink Lab Sends a Cease-and-Desist Demand – FSD Pharma Breached NDA with GBB After GBB Terminates Acquisition Discussions – GBB Drink Lab (“GBB” or the “Company”), a maker of the world’s first formulated drink that aids in rapid blood alcohol detoxification has issued a cease-and-desist demand to FSD Pharma (HUGE, “FSD”) a publicly traded biotechnology company that operates in the pharmaceutical research and development business.
GBB has a patented formula that accelerates the process of converting alcohol to sugar in the body. By enhancing the metabolic pathways that facilitate this process, the formula can help the body clear alcohol much faster than normal. The Company has been working on a proprietary drink for several years using its patented formula.
FSD Pharma entered into a binding Non-Disclosure Agreement (NDA) with GBB. The companies had ongoing discussions about an acquisition for many months that GBB has since terminated.
Mr. John Gulyas, Co-Founder of GBB Drink Lab, met with FSD and its principals over many months and shared proprietary information with the company that included without limitation, information created and developed by the company relating to composition, formulation, and methods of using the composition and formulations for reducing the effects associated with alcohol consumption in drink and other edible and nonedible forms.
Per the cease and desist letter sent to FSD, “Not only has FSD and its principals committed fraud by way of wrongfully inducing GBB Drink Lab into providing the Product and other confidential information, but FSD and its principals have also committed multiple breaches of the Agreement, including, but not limited to: (i) reverse-engineering the Product and/or other confidential information provided, in violation of Section 3 of the Agreement; and/or (ii) wrongfully asserting dominion over the Product and/or other confidential information (and all intellectual property rights pertaining thereto) by using such information to launch FSD’s recently announced Program”.
Mr. Jarrett Boon, Co-Founder and CEO of GBB Drink Lab, states that “FSD Pharma has violated the NDA, developed a product using the Company’s formula, trade secrets, methods, and has used the stolen information to gain investors for its own stock. GBB is aggressively taking legal action against the theft of its confidential information and has demanded that FSD halt its product from being launched”. CONTINUED… Read this full news release for GBB Drink Lab at: https://finance.yahoo.com/news/gbb-drink-lab-sends-cease-204749015.html
In other market news of interest:
FSD Pharma Inc. (NASDAQ: HUGE), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, recently announced completion of the first-in-human (“FIH”) sentinel dosing of Lucid-21-302 (“Lucid-MS”) in the Company’s Phase I clinical trial evaluating its novel drug candidate as an orally-administered treatment for Multiple Sclerosis (“MS”). The sentinel dose was completed on Sunday, April 16, 2023.
“Dosing the sentinel subject is a major achievement for our team and culmination of more than a decade of very promising research by a seasoned development team passionate about changing the future treatment paradigm for patients dealing with the debilitating effects of MS,” said Dr. Lakshmi Kotra, CEO of Lucid Psycheceuticals, a wholly owned subsidiary of FSD Pharma. “Current MS treatments are immunomodulatory and include repeated subcutaneous or intramuscular injections for treating the symptoms of MS. We envision a day where an oral medication will protect or even help repair myelin in the central nervous system, a hallmark feature of the disease. We are optimistic Lucid-MS has this type of paradigm-shifting potential and the sentinel dosing is a critical step in advancing this pipeline forward.”
Celsius Holdings, Inc., (NASDAQ: CELH), maker of the leading global fitness drink, CELSIUS®, recently reported preliminary financial results for the fourth quarter ended December 31, 2022. Management hosted a conference call recently to discuss the results with the investment community.
A PDF containing our fourth quarter 2022 results and full financial tables is available at:
https://www.celsiusholdingsinc.com/Q4_2022/
Webcast: https://event.choruscall.com/mediaframe/webcast.html?webcastid=mYPPakDe
Replay of the conference call can be accessed through the webcast link. Disclosures can be found on the Company’s online disclosure portal at: https://www.celsiusholdingsinc.com/sec-filings/
Omeros Corporation (NASDAQ: OMER) recently announced that it has been awarded a grant from the National Institute on Drug Abuse (NIDA), part of the National Institutes of Health, to develop Omeros’ lead orally administered compound from its proprietary phosphodiesterase 7 (PDE7) program OMS527 for the treatment of cocaine use disorder (CUD). The grant is expected to provide $6.69 million over three years and is intended to support both preclinical cocaine interaction studies and a clinical study evaluating the safety and efficacy of OMS527 in patients with CUD.
To advance NIDA’s urgent medication development priorities for substance use disorders, Omeros submitted a grant application in 2022 to assess the potential of PDE7 inhibition as a treatment for CUD. Following peer review including leaders in the field from academia and industry, grant funding was awarded on April 7, 2023. The grant has two main objectives. The first is to conduct interaction/toxicology studies of OMS527 in rats and non-human primates. Although a prior clinical study demonstrated that the compound is well tolerated in humans, cocaine has inherent proconvulsant and adverse cardiovascular effects, so the U.S. Food and Drug Administration requires additional drug-interaction safety studies to ensure that any therapeutic candidate is safe in people with CUD who may use cocaine while in treatment. The second objective is the successful completion of a randomized, single-dose, double-blind, parallel-group, inpatient study comparing the safety and efficacy of Omeros’ lead oral PDE7 inhibitor to placebo in the treatment of adults with CUD who receive concurrent intravenous cocaine. In addition to initial efficacy data on the endpoints of cocaine liking and craving, OMS527 pharmacokinetic and pharmacodynamic data in the presence of concomitant cocaine administration will be collected.
Merck (NYSE: MRK), known as MSD outside the United States and Canada, and Prometheus Biosciences, Inc. (NASDAQ: RXDX) recently announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, has agreed to acquire Prometheus for $200.00 per share in cash for a total equity value of approximately $10.8 billion.
“At Merck, we are committed to delivering on our purpose to save and improve lives and continue to identify and secure opportunities where compelling science and value creation align,” said Robert M. Davis, chairman and chief executive officer, Merck. “The agreement with Prometheus will accelerate our growing presence in immunology where there remains substantial unmet patient need. This transaction adds diversity to our overall portfolio and is an important building block as we strengthen the sustainable innovation engine that will drive our growth well into the next decade.”
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