August 6, 2018 / 11:18 AM / 8 days ago

U.S. FDA declines to approve Pain Therapeutics' opioid drug

Aug 6 (Reuters) - Pain Therapeutics’ said on Monday that the U.S. Food and Drug Administration declined to approve the company’s opioid drug for the management of severe pain as the benefits of the drug did not outweigh the risk.

The drug developer also said it had initiated a strategic reorganization to align its resources to focus on Alzheimer’s disease.

The regulator’s decision comes amid increased public and regulatory scrutiny in the United States over the use of opioid drugs, the abuse of which has reached epidemic proportions in the country. (Reporting by Manas Mishra in Bengaluru; Editing by Shailesh Kuber)

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