Opioid addiction, whether from prescription painkillers or illicit drugs, is described by many addicts as an all-consuming, life-destroying, upside-down existence. The federal Centers for Disease Control and Prevention reports that the majority of drug overdose deaths (more than six out of 10) involved an Opioid. Since 1999, the number of overdose deaths involving opioids, including prescription painkillers and heroin, quadrupled (http://dtn.fm/wKt7e).
Every day, more than 90 Americans die after overdosing on opioids with the CDC estimating that the total “economic burden” of prescription opioid misuse alone in the United States is $78.5 billion a year (http://dtn.fm/BkiL8). The response to this nationwide “opioid crisis” ranges from President Donald Trump declaring a national public health emergency to a county in Utah seeking financial relief by filing a lawsuit against Big Pharma that would possibly repay the criminal justice, drug Treatment and social service costs incurred by the effects of opioid addiction (http://dtn.fm/jm1M6).
Companies that specialize in treating opioid and alcohol addiction are stepping up with several clinical settings and programs to help addicts recover. BioCorRx, Inc. (OTC: BICX), a California-based company that specializes in the complex nature of addiction, offers a unique methodology to the treatment of substance abuse addiction. The company’s two-prong approach includes an outpatient implant procedure, performed by a licensed physician, that delivers the non-addictive medication “naltrexone,” an opioid antagonist that can significantly reduce physical cravings for alcohol and opioids.
The second component is a proprietary counseling program, made available through a growing network of counselors certified to deliver the program, that couples peer support with a long-term naltrexone treatment. The company’s R&D subsidiary, BioCorRx Pharmaceuticals, is currently developing an injectable naltrexone technology (BICX101) through partnership with TheraKine Ltd. Naltrexone stops heroin and other opioids from binding at the brain’s opioid receptor, making drug use less rewarding and therefore easier to quit (http://dtn.fm/GA7Wu).
Founded by Neil Muller and George O’Neill in 2008, BioCorRx provides a treatment program that empowers patients to succeed in their overall recovery through its wholly owned subsidiary, Fresh Start Private, Inc. The company’s management team has extensive business and healthcare knowledge and is preparing to build a strong case for expedited FLDA approval of its naltrexone implant, strategically ahead of the injectable BICX101.
BICX partners with medical centers to increase awareness of its recovery program and naltrexone implant, which should enhance the company’s case for FDA approval. In September, BICX launched a beta version of its proprietary mobile application, which allows licensed behavioral specialists, counselors, and therapists to remotely monitor a patient’s progress as they complete the program modules.
The treatment market, estimated at $35 billion in the United States alone, continues to grow. Over the past 15 years, the number of people seeking treatment for opioid addiction has risen by 770 percent, a report from JGR Capital states (http://dtn.fm/95rVZ). According to the Substance Abuse and Mental Health Services Administration, an estimated 23.6 million people in the U.S. are addicted to drugs and/or alcohol, but a full 85 percent of them do not get proper treatment. Notably, numerous state and federal entities have expressed interest in BICX’s unique program as various forms of naltrexone are being used in the nation’s ongoing fight against opioid addiction.
For more information, visit the company’s website at www.BioCorRx.com
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