Biotech company Rainbow Coral Corp. (RBCC) reports its flagship drug Naltrexone continues to gain widespread acceptance in the medical world as researchers discover more and more practical and beneficial uses for it. As Naltrexone’s acceptance and usage spreads, RBCC expects to enjoy greater revenues from the drug.
“Naltrexone has proven to not only be an effective drug since its debut, but a very versatile one as well,” said RBCC CEO Kimberly Palmer. “And because it has been so beneficial and versatile, it’s also proven to be a product that can generate revenues as it is becoming a standard treatment for many afflictions. We’re optimistic these new markets and growing list of applications will add to the success we’ve had with the drug over the years.”
Initially developed as a means to combat alcohol and opioid addiction, some have found the drug in low doses can also an effective means to treat autoimmune diseases and maladies such as Crohn’s disease, fibromyalgia, chronic pain, and chronic fatigue syndrome. The result is that the market for Naltrexone, already considerable thanks to its successful use against alcohol dependence, could experience strong future growth as additional applications are found.
Drug, alcohol and other addiction rehab is a $35 billion industry in the U.S., with more than 14,000 treatment facilities and 2.5 million patients receiving treatment. Meanwhile, pharmaceutical analysts estimate the market for chronic pain medication to surpass $21 billion by 2022, while sales of Crohn’s disease drugs could top $5.6 billion by 2021, and fibromyalgia treatments may reach $1.9 billion by 2023.