Lannett Shares Jolted By FDA Approval Of Cocaine Spray For Nasal Surgery

Pharmaceutical products manufacturer Lannett Company, Inc. (NYSE: LCI) said Monday that its New Drug Application for cocaine hydrochloride nasal solution under the brand name Numbrino has received FDA approval.

Although cocaine is more commonly associated with drug abuse, the substance is also used for medicine purposes. In the U.S., it’s a Schedule II drug, meaning that it has some approved medical uses. 

Cannabis, on the other hand, is a Schedule I drug, meaning it has no approved medical uses. 

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